Problem 6-5A Calculate ending inventory and cost of goods sold using FIFO and LIFO and adjust inventory using lower of cost and net realizable value

Problem 6-5A Calculate ending inventory and cost of goods sold using FIFO and LIFO and adjust inventory using lower of cost and net realizable value (LO6-3, 6-6) The following inforrmatioapplesto the questionis displayed below. For the current year, Parker Games has the following inventory transactions related to its traditional board games. Parker Games usos a periodic inventory system Date Transaction Units Cost Total Cost Jar. 1 Mar. 12 Beginning inventory Purchase Purchase 20 $21 2.520 1410 540 16 Sep. 17 270 $ 1,500 Jan. 1-Dec. 3 Sales 170 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 the 100 units of unsold inveritory is only $500