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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
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 Mar. 12 Sep. 17 Transaction Units Cost Total Cost Beginning inventory 106 $20 Purchase Purchase 2,120 1.245 424 15 83 53 242 3,789 Jan. 1-Dec. 31 Sales 163 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 the 79 units of unsold inventory is only $430. Required information 0.66 points You did not receive full credit for this question in a previous attempt Required 1. Using FIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold
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