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: 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 LCM/NRV. Complete this question by entering your answers in the tabs below. Req1A Rea 18 Reg 2 NRV pet Complete the table column "Write-Down per Item and then sum the final column. Unit Cost Item Write down per Quantity on Total Write (FIFO) Item Item Hand down Alligator Armoires $ 30$ 24 50 Bear Bureaus 40 40 75 Cougar Credenza 50 52 10 Dingo Cribs 30. 30 Elephant Dresses 12 400 G&&&& Reg 10 >