E7-10 Part 1 Required: 1-a. Complete the two columns of the table. Quantity on Hand Acquired (FIFO) at Year-End Item Unit Cost When Market Value LCM per Total LCM Recorded Total Cost Item Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 60$ 80 45 30 44 $ 75 85 65 50 39 75 87 65 47 $ 2,640 6,000 3,825 1,950 23,500 470 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item Ending Inventory