Reference no: EM132465908

A "laden Hardware Store se s two product categories, tads aid paint products. Information pertaining to Its 2021 year-did Inventory Is as follows:

Inventory, by Product Category	Quantity	Per Unit Coat	Net Realizable Value
Tools!
Hammers	120	54.90	55.40
Saws	190	9.90	8.90
Screwdrivers	290	1.90	2.50
Paint products:
1-gallon
cane	490	5.90	4.90
Paint brushes	120	3.90	4.40

Required:

Question 1. Determine the carrying value o' Inventory at year-end, assuming the lower o' cost or net realizable value (LCNRV) rule S applied to la) individual products, (D) product categories, aid (c) total Inventory.

Question 2. Assuming inventory write-downs are common for Amaden record any necessary year-end adjustment amount 'or each o' the LCNRV ado application In requirement 1