Per Unit Net Realizable Inventory, by Product Category Quantity Cost Value Tools: Saws Paint products: Paint brushes Required: Hammers Screwdrivers 1-gallon cans 110 $ 4.40 $ 4.90 140 9.40 8.40 240 1.40 2.00 440 5.40 4.40 110 3.40 3.90 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory. 2. Assuming inventory write-downs are common for Ace, record any necessary year-end adjusting entry for each of the LCNRV 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 net rea applied to (a) individual products, (b) product categories, and (c) total inventory.