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Cer / homework 0 Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about five major items stocked for

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Cer / homework 0 Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about 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. 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCMNRV Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 Complete the table column "Write-Down per Item and then sum the final column. Item Write-down per Item Total Write- down Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers Unit Cost (FIFO) S 30 27 21 NRV per Item $ 27 27 27 Quantity on Hand 1 5 15 40 100 100 Req 1B > Prey 3 of U the work you have completed 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 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down X Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Req 2 Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Total amount of write down U. Complete le table column "Write Down per Item and then sum the final column. 1-5. Compute the amount of the total write down when the LCM/NRV rule is applied to each item. 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its in X Answer is not complete. Complete this question by entering your answers in the tabs below. Req 2 Req 1A Req 1B Req 2 Prepare the joumal entry Peterson Furniture Designs would record on December 31 to write down its inventor LCM/NRV. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first accou No Date General Journal Debit Credit arch

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