Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the ive major items stocked for regular sale follows: Required: -a. Complete the final two columns of the table. -b. Compute the amount that should be reported for the ending inventory using the LC\&NRV rule applied to each item. 2. Prepare the journal entry that Peterson Furniture Designs would record on December 31. (If no entry is required for a ransaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits