7 5 points Sandals Company is preparing the annual financial statements dated December 31 Ending inventory is presently recorded at its total cost of $16,325. Information about its inventory Items follows: Quantity Unit Cost When Product Line value on Hand Acquired (FIFO) at Year-End Air Flow 581 Blister Buster 85 60 56 Coolanite 40 25 18 Dudenly 85 85 88 de 175 Required: 1. Compute the LCMNRV write down per unit and in total for each item in the table. Also compute the total overall write-down for all items 2. How will the write-down of inventory to lower of cost of marketinet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the Inventory on December 31, after the LCMINRV rule has beed applied to each item Answer is not complete Complete this question by entering your answers in the tabs below. Required: Requirea 2 Required Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items Product Line Write down peritem Air Flow Baster Buster Coolonite Dudesly Total Quantity on Hand 40 85 40 85 Total Write down 0 340 200 1683 03 0 OOO . Answer is not complete Complete this question by entering your answers in the tabs below. Required 1 Requirem? Required a How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported the Cost of boods sold w be increased