Almaden hardware store sells two product categories, tools and paint products. information pertaining to its 2018 year-end inventory is as follows: inventory, by product category quantity per unitcost net realizable valuetools: hammers 100 $ 5.00 $ 5.50saws 200 10.00 9.00screwdrivers 300 2.00 2.60paint products: 1-gallon cans 500 6.00 5.00paint brushes 100 4.00 4.50required: 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 that the company reports an inventory write-down as a line item in the income statement, for each of the lcnrv applications determine the amount of the loss.

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.