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: Quantity Unit Cost When Product Line Acquired (FIFO) Air Flow Blister Buster Coolonite Dudesly on Hand 6e 30 60 55 $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 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 Items 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 wr for all items. Product Line Quantity on Hand 60 Write-down per item Total Write- down 30 Air Flow Blister Buster Coolonite Dudesly Total 60 55 (Required 1 Required 2 > CP 2 of 3 Next > 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 a 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