E7-10 Part 1 Required 1-a. Complete the two columns of the table. Quantity on Hand Unit Cost When Acquired (FIFO) LCM per Item Recorded Total Cost Market Value 24 40 52 30 12 Item Total LCM at Year-End 30$ 40 50 30 1,500 3,000 500 900 6,000 50 $ Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers 75 30 400 1-b. Compute the amount that should be reported for the ending inventory using the LCM rule applied to each item Ending Inventory