Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $9,375. Information about its inventory items follows: Product Line Air Flow Quantity on Hand 30 Blister Buster 30 Coolonite Dudesly 50 15 Unit Cost When Acquired (FIFO) $ 95 75 75 35 Value at Year-End $ 103 73 69 39 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 market/net 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 1 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. Product Line Quantity on Write-down Total Write- Hand per item down Air Flow Blister Buster Coolonite Dudesly 30 30 50 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 items. 2. How will the write-down of inventory to lower of cost or market/net 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 1 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. Product Line Quantity on Hand Write-down per item Air Flow 30 Blister Buster 30 Coolonite 50 Total Write- down Dudesly Total 15 < Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 How will the write-down of inventory to lower of cost or market/net realizable value affect the company's expenses reported for the year ended December 31? Cost of goods sold will be by uired 1 Required 3 > decreased increased 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 market/net 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 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. Written-down inventory < Required 2 Required 3 >