Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $14,525. Information about its inventory items follows: Product Line Air Flow Blister Buster Coolonite Dudesly Quantity on Hand 60 30 60 55 Unit Cost When Acquired (FIFO) $60 40 75 95 Value at Year-End $ 67 38 68 102 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 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 Hand per item Total Write- down Air Flow 60 Blister Buster 30 Coolonite 60 55 Dudesly Total Required 1 Required 2 Required 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? Cost of goods sold will be by Required 1 Required 3 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