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 Plow Blister Buster Coolonite Dudenly Quantity on Hand 25 15 70 60 Unit Cost When Aequired (FIFO) $90 80 20 90 Value nt 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 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 317 3. Compute the amount that should be reported for the inventory on December 31, after the LCMNRV rule has been applied to each item. 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 ove for all items. Product Line Quantity on Write-down Total Write- Hand per item down 25 Air Flow 15 70 Blister Buster Coolonite Dudesly Total 60 Required 1 Required 2 Required 3 How will the write-down of inventory to lower of cost or marketet realizable value affect the company 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 December 31, after the LCM/ each item. Written-down inventory Required2