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 References Section Break E7-10 Reporting Inventory at Lower of Cost or Market [LO7 4] value 1.00 points Required information E7-10 Part1 Required: 1-a. Complete the two columns of the table Quantity on Hand Unit Cost When Acquired (FIFO) Market Value at Year-End LCM per Item Item Total LCM Total Cost 35 80 102 60 17 2,800 6,800 3,000 3,600 10,400 40$ Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 70 85 30 60 520 80 100 60 20 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item