For the current year, Boardwalk Games has the following inventory transactions related to its traditional board games. Boardwalk Games uses a periodic inventory system. Date January 1 March 12 September 17 January 1 to December 31 Transactions Beginning inventory Purchase Purchase Ending inventory Cost of goods sold Sales Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. Units 102 79 49 230 159 Unit Cost $19 14 7 Total Cost $1,938 1,106 343 $3,387

For the current year, Boardwalk Games has the following inventory transactions related to its traditional board games. Boardwalk Games uses a periodic inventory system. Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. For the current year, Boardwalk Games has the following inventory transactions related to its traditional board games. Boardwalk Games uses a periodic inventory system. 2. Using LIFO, calculate ending inventory and cost of goods sold. [The following information applies to the questions displayed below] For the current year, Boardwalk Games has the following inventory transactions related to its traditional board games. Boardwalk Games uses a periodic inventory system. Because of the increasing popularity of electronic video games, Boardwalk 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, Boardwalk estimates the net realizable value of the 71 units of unsold inventory to be $390. 3.a. Determine the amount of ending inventory to report using lower of cost and net realizable value under FIFO. 3-b. Record any necessary adjusting entry under FIFO. Complete this question by entering your answers in the tabs below. Becouse of the increasing popularity of electronic video games, Boardwalk 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, Boardwalk estimates the net realizable value of the 71 units of unsold inventory to be $390. Determine the amount of ending inventory to report using lower of cost and net realizoble value under FIFO