Required information (The following information applies to the questions displayed below.) Part 1 of 2 Peterson Furniture Designs is preparing the annual financial statements dated December 3 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 below. Req 1A Reg 1B Complete the table column "Write-Down per Item" and then sum the final column. Quantity o n Hand Write-down per Item S Total Write- down Item Unit Cost NRV per (FIFO) Item $ 30 $ 27 15 Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers SUNNN 407 0 100 100 $ 64 Req18 > Required information [The following information applies to the questions displayed below.) Part 1 of 2 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 below. Reg 1A Reg 1B Compute the amount of the total wr -down when the LCM/NRV rule is applied to each item. Total amount of write down $ 109 Req1A 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: 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory LCMNRV. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first acco Part 2 of 2 View transaction list Journal entry worksheet Record Inventory write down to LCM/NRV. Note: Enter debits before credits Date General Journal Debit Credit December 31 Record entry Clear entry View general journal