Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending Inventory Information about the five major items stocked for regular sale follows. E7-11 Part 1 Required: 1.a. Complete table column "Write-Down per Item" and then sum the final column 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Complete the table column "Write-Down per Item" and then sum the final column Write down per Quantity Item W Unit Cost FIFO S 00 NRV per Item $ 55 45 Total rite down 3.850 Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant 30 1.200 x 38 1520 37 2.405 X Reg 1B > (The following information applies to the questions displayed below) Peterson Furniture Designs is preparing the annual financial statements dated December 31 Ending Inventory Information about the five major Items stocked for regular sale follows. E7-11 Part 1 Required: 1-a. Complete the table column "Write-Down per Item and then sum the final column 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Answer is not complete. Complete this question by entering your answers in the tabs below Req 1A Reg 1B Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. o amount of write ( Req 1A