Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $10,250. Information about its inventory items follows Product Line Air Flow Blister Buster Coolonite Dudesly Quantity on Hand 25 15 70 60 Unit Cost When Acquired (FIFO) $90 80 20 90 Value at Year-End $92 76 13 96 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? tem 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 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 items 2. 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? 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 Complete this question by entering your answers in the tabs below 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 Write-down per item Total Write down Product Line Air Flow Blister Buster Coolonite Dudesly Total Hand 25 15 70 60