Ending inventory information about the four major items stocked for regular sale are as follows: Product Line Quantity Unit Cost When Net Realizable Value at on Hand Acquired (FIFO) Year-End Item A 20 $20 $23 Item B 40 26 23 Item C 30 15 14 Item D 15 22 23 1. Compute the amount that should be reported for the ending inventory, using the Lower of Cost and Net Realizable Value (LC&NRV) rule applied to each item. Ending Inventory 2. How will the write-down of inventory to the lower of cost and net realizable value affect the company's expenses reported for the year ended December 31? Cost of Goods Sold by amount (write Increased or Decreased)