1a) Complete the table column “write down per item” and then sum the final column 1b) 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 31st to write down its inventory to LCM/ NRV THANK YOU IN ADVANCE

k t K nt ences 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. 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. h Req 1A Req 1B Item Alligator Armoires Bear Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers Complete the table column "Write-Down per Item" and then sum the final column. NRV per Item Write-down per Item Req 2 Unit Cost (FIFO) $ 60 55 53 55 22 $ 56 55 59 55 14 Req 1A Quantity on Hand 50 30 80 70 50 Total Write- down Req 1B >

Beginning inventory, purchases and sales data for T-shirts are as follows: April 3 Inventory 24 units @ $10 11 Purchase 26 units @ $12 14 Sale 36 units     21 Purchase 18 units @ $15 25 Sale 20 units       Assuming the business maintains a periodic inventory system; calculate the cost of merchandise sold and ending inventory under the following assumptions: FIFO LIFO Average cost In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar.

please solve with all workings like explanation , computation for each part and steps clearly in proper format answer in text form