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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-o. 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. Reg 1A Reg 1B Reg 2 Complete the table column "Write-Down per Item" and then sum the final column Unit Cost NRV per Write down Quantity on Total Write Item (FIFO) Item per item Hand down Aligator Amores 5 2015 18 90 Bew Bureaus 40 40 60 Cougar Credenzas 54 62 100 34 Dingo Cribs 10 34 Elephant Dressers 36 30 80 Reg 10 > 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. Reg IA Reg 18 Reg 2 Compute the amount of the total write down when the LCM/NRV rule is applied to each item. Total amount of write down Req 1A Reg 1B Reg 2 Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCM/NRV. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record inventory write down to LEM/NRV. Note: Enter debits before credits General Journal Debit Credit Date December 31 View general Journal Record entry Clear entry