Required information The following information applies to the questions displayed below.) 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. Complete this question by entering your answers in the tabs belolv. Req 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column. K Total Write- down Item Write-down per Item Unit Cost NRV per (FIFO) Item 40 $ 36 Quantity on Hand 20 48 48 30 24 27 40 Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers ces 51 51 70 24 17 75 Reg 1A Req 1B > Reg 1A Req 181 Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Total amount of write-down