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Please help me figure out #6. just in case you need more info also heres the puctures in this set of problems. 6 Required information
Please help me figure out #6.
6 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. Part 3 of 3 1 points Date Jan. 1 Mar. 12 Sep. 17 Transaction Beginning inventory Purchase Purchase Units 120 90 60 Unit Cost $21 16 9 Total Cost $2,520 1,440 540 $4,500 270 Jan. 1-Dec. 31 Sales 170 eBook 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 100 units of unsold inventory to be $500. Print o References 3-a. Determine the amount of ending inventory to report using lower of cost and net realizable value Lower of Cost and NRV FIFO 3-b. Record any necessary adjustment under FIFO. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction fist View journal entry worksheet General Journal Debit Credit No 1 Transaction December 31 Inventory Mc Graw 4 Part 1 of 3 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. 1 points Date Jan. 1 Mar. 12 Sep. 17 Transaction Beginning inventory Purchase Purchase Units Unit Cost 120 $21 90 16 60 9 270 170 Total Cost $2,520 1,440 540 $4,500 eBook Jan. 1-Dec. 31 Sales Print 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 100 units of unsold inventory to be $500. References Required: 1. Using FIFO, calculate ending Inventory and cost of goods sold Ending Inventory Cost of goods sold $ $ 1.180 3,320 Mc Graw just in case you need more info also heres the puctures in this set of problems.
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