Required Information [The following information applies to the questions displayed below) A company like Golf USA that sells golf-related Inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver , the new and Improved version of the MegaDriver Below are year-end amounts related to Golf USA's Inventory Inventory Shirts Megabriver Megabriver 11 Quantity 31 11 26 Unit Cost $ 56 320 330 Unit NRV $ 66 230 380 Required: 1. Calculate the total recorded cost of ending Inventory before any adjustments, Cost ofanding inventory (before adjustment) Required Information (The following information applies to the questions displayed below! A company like Golf USA that sells golf-related Inventory typically will have Inventory items such as golf clothing and golf equipment As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) Introduces the MegaDriver I, the new and Improved version of the MegaDriver. Below are year-end amounts related to Golf USA's Inventory Inventory Shirts MegaDriver MegaDriver II Quantity 32 11 26 Unit Cost $56 328 330 Unit NRV $ 66 230 380 2 Calculate ending Inventory using the lower of cost and net realizable value. Quantity Lower of Cost and NRV Ending Inventory Inventory Shirts MegaDriver MegaDriver It $ Required Information [The following information applies to the questions displayed below) A company like Golf USA that sells golf-related Inventory typically will have Inventory items such as golf clothing and golf equipment As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value Suppose that in the current year, Ping a manufacturer of golf clubs) Introduces the MegaDriver the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USA's Inventory Inventory Shirts MegaDriver MegaDriver II Quantity 31 11 26 Unit Cost $ 56 320 33e Unit NRV 5 66 230 388 3. Record any necessary adjustment to inventory: (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