Required information 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 (L06-3, 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. Date Transaction Beginning inventory Purchase Purchase Units 102 Unit Cost $19 Total Cost $1,938 1.106 Mar. 12 Sep. 17 23e $3,387 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 71 units of unsold Inventory to be $390. Problem 6-5A Part 1 Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold