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 below. Req 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column. Item Unit Cost (FIFO) 50 NRV per Item $ 46 Write-down per Item Quantity on Hand Total Write- down 95 57 57 65 Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 46 49 90 60 41 41 45 41 75 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 Req 1B Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Total amount of write-down