Please include explanation for each

Chapter 7 Homework Help Sandals Company is preparing the annual financial statements dated December 31 Ending inventory is presently recorded at its total cost of $5,400. Information about its inventory items follows: Quantity on Hand Unit Cost When equired (FIFO) Value at Year-End $30 Product Line Air Flow Blister Buster Coolonite Dudesly BO Print References Required: 1. Compute the LCMNRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each Item Required 1 Required 2 Required 3 Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. Product Line Quantity on Write-down Hand per item Total Write- down Air Flow Blister Buster Coolonite Dudesly Total 45 30 Required 2 > Required 1 Required 2 Required 3 How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? Cost of goods sold will be Required 1 Required 2 Required 3 Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item. Written-down inventory Required 2 Rece