Required HMOVI 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 information applies to the questions displayed below.] For the current year, Parker Games has the following inventory transactions related to its traditional board games. Parker Games uses a periodic inventory system. Unit Cost Total Cost Date Jan. 1 Mar. 12 Transaction Beginning inventory Purchase Units 116 88 $19 14 $2,204 1,232 Sep. 17 Purchase 58 7 406 Jan. 1-Dec. 31 Sales 262 168 $3,842 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 94 units of unsold inventory to be $480. Problem 6-5A Part 2 2. Using LIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold