[The following information applies to the questions displayed below.) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: value: 1.66 points Required: 1-a. Complete the two columns of the table. Item Quantity on Hand Unit Cost When Market Value Acquired (FIFO) at Year-End LCM per Item Total CM Recorded Total Cost Alligator Armoires 80 $ 48 $ 43 $ 3,840 Bear Bureaus 43 85 95 7,650 7,650 1,425 1,600 Cougar Credenzas Dingo Cribs Elephant Dressers 1,425 40 401 160 1.600 410 12,300 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item. Ending Inventory