For the current year, Parker Games has the following inventory transactions related to its traditional board games. Parker Games uses a periodic inventory system.

Date				Transaction	Units				Unit Cost				Total Cost
Jan.	1			Beginning inventory		114			$	19				$	2,166
Mar.	12			Purchase		73				14					1,022
Sep.	17			Purchase		43				7					301
						230								$	3,489
Jan. 1Dec. 31				Sales		153

Because of the increasing popularity of electronic video games, Parker Games continues to see a decline in the demand for board games. Sales prices have decreased by over 50% during the year. At the end of the year, Parker estimates the net realizable value of the 77 units of unsold inventory to be $330.

3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value.

3-b. Record any necessary adjustment under FIFO