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.

Ending Inventory Unit Cost Net Quantity When Realizable LC&NRV Total Item on Hand Acquired Value at per Item LC&NRV (FIFO) Year-End Alligator Armoires 62 27 24 Bear Bureaus 87 52 52 Cougar Beds 22 62 64 Dingo Cribs 42 42 42 Elephant Dressers 460 22 18Journal entry worksheet A Record the write-down in inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal