5. Trading Cards Inc. is preparing financial statements for the year ended October 31, 2021. Ending inventory Information about the five main items stocked are as follows: Ending Inventory Item Quantity on Hand Unit Cost When Acquired (FIFO) Net Realizable Value at Year-end 110 $140 $120 150 250 400 24 460 510 D 54 250 290 E 700 110 80 mo Required (9 marks): a) Calculate the value of the October 31, 2021 ending inventory using the lower of cost and net realizable value (LC&NRV) rule applied on an item-by-item basis. b) How will the amount you calculated in part a impact cost of goods sold for the year ended October 31, 2021