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Home Stop sells two product categories, furniture and accessories. Information pertaining to its 2018 year end inventory is as follows: Per Unit nventory, Market by Product Category Quantity Cost Furniture: Chairs Desks Tables 7e $34 40 6e 40 67 101 82 93 Accessories: 57 27 5e 69 31 Rugs Lamps Required: 1. Determine the carrying value of inventory at year-end, assuming the lower of cost or market (LCM) rule is applied to products, (b) product categories, and (c) total inventory. 2. Assuming that the company reports an inventory write- applications determine the amount of the loss. (a) individual down as a line item in the income statement, for each of the LCM applicattons determine the ammouno of an vntrw 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 Lower of cost or market By Individual By Product By Total Inventory Product Cost Products Type Furniture: Chairs Desks Tables Total furniture Accessories Rugs Lamps Total accessories Total Required 2 Required 1Required 2 Assuming that the company reports an inventory write-down as a line item in the income statement, for each of the LCM applications determine the amount of the loss. (a) Individual products (b) Product categories (c) Total inventory

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