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Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale

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Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Item Quantity on Hand Ending Inventory Unit Cost When Acquired (FIFO) Net Realizable LC&NRV Total Value at per Item LC&NRV Year-End Alligator Armoires Bear Bureaus 53 $ 18 $ 15 78 43 43 Cougar Beds 13 53 55 Dingo Cribs 33 33 33 Elephant Dressers 415 13 9

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