Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regufar sale follows: 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. 2. Prepare the Journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCMNRV. Complete this question by entering your answers in the tabs below. NRV per Regla Reg 18 Reg 2 Complete the table column "Write-Down per Item" and then sum the final column. Item Unit Cost Write-down Quantity on Total Write- (FIFO) Item per Item Hand down Alligator Armoires $ 30 $ 27 15 Bear Bureaus 27 27 15 Cougar Credenzas 21 27 40 Dingo Cribs 23 23 100 Elephant Dressors 34 32 100 Rog 1A Reg 1B > Total amount of write-down Journal entry worksheet Record inventory write down to LCM/NRV. Note: Enter debits before credits. General Journal Debit Credit Date December 31