Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $14,800. Information about its inventory items follows: Product Line Quantity on Hand Unit Cost When Acquired (FIFO) Value at Year-End Air Flow 50 $ 20 $ 22 Blister Buster 70 60 55 Coolonite 70 100 97 Dudesly 65 40 47 Required: 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

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.

How will the write-down of inventory to lower of cost or market/net realizable value affect the companys expenses reported for the year ended December 31?

Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item.

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.

How will the write-down of inventory to lower of cost or market/net realizable value affect the companys expenses reported for the year ended December 31?

Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item.

Product Line	Quantity on Hand	Write-down per item	Total Write-down
Air Flow	50
Blister Buster	70
Coolonite	70
Dudesly	65
Total