Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $16,300. Information about its inventory items follows: Product Line Air Flow Quantity on Hand Unit Cost When 85 Acquired (FIFO) $ 85 Blister Buster 15 Coolonite Dudesly Required: 90 75 Value at Year-End $ 87 70 65 60 53 35 39 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 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. Compute the LCM/NRV write-down per unit and in total for each it for all items. Quantity on Write-down Total Write- Product Line Hand per item down Air Flow 85 Blister Buster 15 Coolonite Dudesly Total 90+ 75 How will the write-down of inventory to lower of cost or marketet realizable value for the year ended December 31? Cost of goods sold will be by Required 1 Required 2 Required 3 Compute the amount that should be reported for the inventory on Decem each item. Written-down inventory