E7-12 Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4) Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $9,375. Information about its inventory items follows: Quantity on HandAcquired (FIFO) it Cost When ct Line t Year-Encd Air Flow Blister Buster Coolonite Dudesly $95 75 75 35 $103 50 15 73 69 39 Required: 1. Compute the LCMINRV witte-down per unit and in total 2 How will the write-down of inventory items year ended December 31? item. l for each item in the table. Also compute the total overall write-down for all to lower of cost or marketet realizable value affect the company's expenses reported for the amount that should be reported for the Inventory on December 31, after the LCM/NRV rule has been applied to each Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Compute the LCH/NRV write-down per unit and in total for each item in the table. Also compute the total everall write down for all items. Product Line Air Flow Blister Buster Hand per item down 30 50 15 Total prev 11 of 15 Next >