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 Item Quantity on Hand Unit Cost When Acquired (FIFO) Net Realirable Value at Year-End LC&NRV per item Total LC NRV $ 1e $ 10 54 79 44 Aligator Armoires Bear Bureaus Cougar Beds Dingo Cribs Elephant Dressers 14 58 34 54 34 14 34 420 10 1-b. Compute the amount that should be reported for the ending inventory using the LC&NRV rule applied to each item Ending to 2. Prepare the journal entry that Peterson Furniture Designs would record on December 3 f no entry is required for transaction/event, select "No journal entry required in the first account field) View action ist Journal entry worksheet