requirea:

$1-$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.

$2.$ Prepare the journal entry Peterson Furniture Designs would record on December $31$ to write down its inventory to LCM$/$NRV$.$

Complete this question by entering your answers in the tabs below.

Req $1$A

Req $2$

Complete the table column "Write$-$Down per Item" and then sum the final column.

$\backslash$table$[[\backslash$table$[[$Item$],[$Alligator Armoires$]],\backslash$table$[[$Unit Cost$],[($FIFO$)]],\backslash$table$[[$NRV per$],[$Item$]],\backslash$table$[[\backslash$table$[[$Write$-$down$],[$per Item$]]]],\backslash$table$[[$Quantity on$],[$Hand$]],\backslash$table$[[$Total Write$-],[$down$]]],[$$$,60,$$$,55,,70],[$Bear Bureaus,,$45,,45,,45,],[$Cougar Credenzas,,$24,,30,,50,],[$Dingo Cribs,,$38,11,38,,40,],[$Elephant Dressers,,$45,,37,,65,]]$