1. Complete the table column Write-Down per Item and then sum the final column.
2. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item.

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 Required 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item Complete this question by entering your answers in the tabs below. Req 1A Req 1B Complete the table column "Write-Down per Item" and then sum the final column Unit Cost NRV per Write-down Quantity Total Write- Item FIFO Item per Item on Hand down Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers $4035 27 28 49 31 28 47 35 40 25 10 Req 1A Req 1B Req 1A Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Total amount of write-down Req 1B K Req 1A Req 1B