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/N Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Complete the table column "Write-Down per Item" and then sum the final column. NRV per Write down Quantity on Hand Total Write down Item Item per Item G $ Unit Cost (FIFO) $ 30 27 21 23 27 27 15 27 Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 40 23 32 100 100 34 Rea 1 Req 1B > BRE 7 of 7 # HAN Next