Problem 6-5A (Algo) Calculate ending inventory and cost of goods sold using FIFO and LIFO and adjust inventory using lower of cost and net realizable value (LO63,66) [The following information applies to the questions displayed below] For the current year, Walker Games has the following inventory transactions related to its traditional board games. Walker Games uses a periodic inventory system. Problem 6-5A (Algo) Part 3 Because of the increasing popularity of electronic video games, Walker 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, Walker estimates the net realizable value of the 76 units of unsold inventory to be $340. 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value under FIFO. 3-b. Record any necessary adjusting entry under FIFO. Complete this question by entering your answers in the tabs below. Because of the increasing popularity of electronic video games, Walker Games continues to see a decline in the demand for bo: games. Sales prices have decreased by over 50% during the year. At the end of the year, Walker estimates the net realizable val the 76 units of unsold inventory to be $340. 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value under FIFO. 3-b. Record any necessary adjusting entry under FIFO. Complete this question by entering your answers in the tabs below. Because of the increasing popularity of electronic video games, Walker 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, Walker estimates the net realizable value of the 76 units of unsold inventory to be $340. Determine the amount of ending inventory to report using lower of cost and net realizable value under FIFO. 76 units of unsold inventory to be $340. Record any necessary adjusting entry under FIFO. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet