Peterson Furniture Designs is preparing its annual finandal 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 Total LC&NRV Alligator Armoires Bear Bureaus Cougar Beds Dingo Cribs Bephant Dressers Ending Inventory Unit Cost Net Quantity When Realizable LC&NRV on Hand Acquired Value at per Item (FIFO) Year-End 50 $ 15$ 12 75 40 40 10 50 52 30 30 30 400 10 6 % 1-6. 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.) new transaction lit Journal entry worksheet