Home G ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fvle.phoenix.edu%252Fultra%252Fcourses%252F_2.. Wk 2 - Apply: Summative Assessment [due Day 7] i Saved Help Save & Exit Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2021 year-end inventory is as follows: Inventory, Per Unit by Product Category Quantity Cost Market Furniture: Chairs $ 42 $ 48 11.11 Desks 30 90 75 Tables 70 101 109 points Accessories : Rugs 50 77 65 Lamps 30 39 35 ebook References Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Home Stop, record any necessary year-end adjustment amount for each of the LCM applications in requirement 1. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. Mc