Required information 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 Jan. 1 Nar. 12 Sep. 12 Transaction Teginning inventory Purchase Purchase Units it cost 100 521 84 16 54 9 246 164 Total Cont $2,260 1,344 406 $4,000 Jan. 1-Dec. 31 Sales Because of the increasing popularity of electronic video games, Parker Gomes 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 82 units of unsold inventory to be $440, 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value. Lower of Cost and NRY FIFO 3-6. Record any necessary adjustment under FIFO. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment for inventory under FIFO. Note: Enter debits before credits General Journal Debit Credit Transaction December 31 Racord entry Clear entry View general Journal