1-a. Complete the table column Write-Down per Item and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item.

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Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows Required 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item Complete this question by entering your answers in the tabs below. Req 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column Unit Cost NRV per Write-down Quantity Total Write- Item FIFO Item per Item on Hand down Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers $4035 27 28 49 31 28 47 35 40 25 10 Req 1A Req 1B Req 1A Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Total amount of write-down Req 1B K Req 1A Req 1B