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 Shirts Quantity 42 Unit Cost Unit NRV $65 $77 MegaDriver 22 430 380 MegaDriver II 37 450 490 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) 2. Calculate ending inventory using the lower of cost and net realizable value. Inventory Quantity Lower of Cost and NRV per unit Ending Inventory Shirts 42 MegaDriver 22 MegaDriver II 37 Journal entry worksheet < 1 Record any necessary adjusting entry for inventory. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit 4 View general journal Record entry Clear entry