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: 5 value: 1.42 points Required 1-a. Complete the two columns of the table Quantity on Hand Unit Cost When Acquired (FIFO) Market Value LCM per at Year-EndItem Recorded Total Cost Item Total LCM 80$ Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 48 S 85 95 40 30 43 85 97 40 27 $3,840 7,650 1,425 1,600 12,300 90 40 410 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item Ending Inventory