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 Jan. 1 Mar. 12 Sep. 17 Transaction Beginning inventory Purchase Purchase Units 120 90 60 270 170 Unit Cost $21 16 9 Total Cost $2,520 1,440 540 $4,500 Jan. 1-Dec. 31 Sales 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 100 units of unsold inventory to be $500. 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value. Lower of Cost and NRV FIFO 3-b. Record any necessary adjustment under FIFO. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet