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Sandals Company Is preparing the annual financlal statements dated December 31. Ending Inventory is presently...

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Accounting

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Sandals Company Is preparing the annual financlal statements dated December 31. Ending Inventory is presently recorded at its total cost of $13,125. Information about Its Inventory Items follows: Value Product Line Air Flow Blister Buster Coolonite Dudesly Quantity on Hand 75 28 65 65 Unit Cost Whern Acquired (FIFO) $80 15 95 18 at Year-End $87 93 16 Requlrec 1. Compute the LCM/NRV write-down per unit and In total for each Item In the table. Also compute the total overall write-down for all tems 2. How wll the write-down of Inventory to lower of cost or marketet realizable value affect the company's expenses reported for the year ended December 31? 3. Compute the amount that should be reported for the Inventory on December 31, after the LCM/NRV rule has been applied to each tem Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Compute the LCM/NRV write-down per unit and in total for each item in the table. Also compute the total overall write-down for all items. Quantity on Write-down Total Write- per item roduct Line Air Flow Blister Buster Coolonite Dudesly Total Hand down 75 20 65 65 Required2 >

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