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 Product Line Air Flow Blister Buster Coolonite Dudesly Quantity on Hand 95 20 35 15 Unit Cost When Acquired (FIFO) $ 15 65 95 100 Value at Year-End $ 18 59 87 108 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. 2. How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the vear ended December 31? 3. Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item Required Required 2 Required 3 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 Hand Write-down per item Total Write down Product Line Air Flow Blister Buster Coolonite Dudesly Total 95 20 35 15 Required 1 Requred 2Required 3 How will the write-down of inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? ost of goods sold will be by Required 1 Required 2 Required 3 Compute the amount that should be reported for the inventory on December 31, after the LCM/NRV rule has been applied to each item ritten-down inventory