6 Part of Required information Exercise 6-14A Calculate inventory using lower of cost and net realizable value (L06-6) The following information applies to the questions displayed below.) A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USA's inventory Inventory Quantity Unit Cont Unst RV Shirts 34 159 $ 69 MegaDriver 14 350 245 Megabrive 11 345 410 1.12 points Exercise 6-14A Part 1 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments, Cost of ending inventory before adjustment) 7 Required information Exercise 6-14A Calculate inventory using lower of cost and net realizable value (L06-6) The following information applies to the questions displayed below A company like Golf USA that sells golf-related Inventory typically will have inventory items such as goi ciothing and golf equipment As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year. Ping (a manufacturer of golf clubs) introduces the MegaDriver Il, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USA's inventory Part 2 of 3 112 points i NAV Inventory Shirte Megabtiver Megadriver Quantity 34 14 Unit.coot 3.59 350 145 Print 205 410 Dances Exercise 6.14A Part 2 2. Calculate ending inventory using the lower of cost and net realizable value Quantity Lower of Cost and NRV Ending Inventory Inventory Shirts MegaDriver MegaDriver Unit Coat 5:59 Unit NRV 569 Inventory Shirts MegaDriver Mega Driver tt 8 Quantity 34 14 29 350 345 410 Part of a Exercise 6-14A Part 3 3. Record any necessary adjustment to inventory. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1.16 point Reses Journal entry worksheet Record the adjustment for inventory Nobel Enter debits before cres Transaction General Journal Debit Credit