What is the lower of cost and NRV and Record the adjustment for inventory under FIFO

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 Transaction Units Unit Cost Total Cost Beginning inventory $2,166 Mar. 12 Purchase 1,022 Sep. 17 Purchase $3,489 Jan. 1-Dec. 31 Sales Jan. 1 114 73 43 $19 14 7 301 230 153 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 77 units of unsold inventory to be $330. 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value. Lower of Cost and NRV FIFO