Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending Inventory information about the five major tems stocked for regular sale follows: Required: 1-a. Complete the two columns of the table. Quantity on Hand Unit Cost When Market Value LCM per Item Recorded Total Cost Item Total LCM Acquired (FIFO) at Year-End 50 $ Alligator Armoires 3 31 1,00 Bear Bureaus 75 40 40 3,000 Cougar Credenzas Dingo Cribs 30 60 62 1,800 55 55 55 3,025 35 Elephant Dressers 440 32 15,400 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item. Ending Inventory