View previous attempt Peterson Furniture Designs is preparing its annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the final two columns of the table. Item Alligator Armoires Ending Inventory Unit Cost Net Quantity When Realizable LC&NRV Total on Hand Acquired Value at per Item LC&NRV (FIFO) Year-End 53 $ 18 $ 15 $ 15 $ 795 78 43 43 43 3,352 13 53 55 55 715 33 33 33 33 1,089 415 13 9 91 3,735 EA Bear Bureaus Cougar Beds Dingo Cribs Elephant Dressers 1-b. Compute the amount that should be reported for the ending inventory using the LC&NRV rule applied to each item. ncos 1H View previous attempt 1-b. Compute the amount that should be reported for the ending inventory using the LC&NRV rule applied to each item. Ending inventory $ 9,686 2. Prepare the journal entry that Peterson Furniture Designs would record on December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit A 1 Cost of goods sold Inventory