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: ta. Complete the final two columns of the table. . 5:27 Ending Inventory Unit Cost Net Quantity When Realizable LC&NRV Total an Hand Acquired Value at per Item LC&NRV (FIFO) Year-End Alligator Armoires 26 $ 61 $ 23 Bear Bureaus 86 51 51 Cougar Beds 21 61 63 Dingo Cribs 41 41 41 Elephant 455 Dressers 21 17 1. Compute the amount that should be reported for the ending inventory using the LC&NRV rule applied to each item. Ending triventory 2. Prepare the journal entry that Peterson Furniture Designs would record on December 31 of no entry is required for a transaction/event, select "No journal entry required in the first account field) View transaction list Journal entry worksheet