Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending Inventory Information about th five major Items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Ending Inventory Unit Cost Net When Realizable Acquired Value at (FIFO) Year-End LC&NRV Quantity on Hand Item Total LC&NRV per Item S 09 22 Alligator Armoires Bear Bureaus Cougar Beds Dingo Cribs Elephant Dressers 50 62 20 40 450 60 40 40 16 1-b. Compute the amount that should be reported for the ending Inventory using the LC&NRV rule applied to each item. Ending inventory 2. Prepare the journal entry that Peterson Furniture Designs would record on December 31. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) View transaction list Journal entry worksheet