Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $7,550. Information about its inventory items follows Quantity on Hand 95 20 Unit Cost When Acquired (FIFO) Value at Year-End Product Line Air Flow Blister Buster Coolonite Dudesly $ 15 $ 18 65 95 100 59 87 108 15 Required 1. 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 tems year ended December 31? item 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each Complete this question by entering your answers in the tabs below. Required 1Required 2 Required3 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 Quantity on Write-down per item Total Write down Product Line Air Flow Blister Buster Coolonite Dudesly Total Hand 95 20 35 15 How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported : Cost of goods sold will be Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item Written-down inventory Required 2 Required 3