6 Inventory Valuation (8 Marks) Player Company made the following merchandise purchases during the current year: Jan. 1: 380 units at $15.00 May 1: 270 units at $20.00 June 1: 300 units at $24.00 Oct. 1: 250 units at $30.00 There was no beginning inventory, but ending inventory consisted of 400 units. If Player uses the FIFO method and the periodic inventory system, what would be the cost of the ending inventory? Section 7 Lower of Cost and Net Realizable Value (LCNRV) (8 Marks) Isaiah's Gear had the following ending inventory costs: Product ID Units on Hand Unit Cost Unit NRV A 10 $5 $7 B 50 $8. $9 C 35 $10 $8 D 47 $14 $13 Calculate the lower of cost and net realizable value (LCNRV) on an item by item basis