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Required information [The following information applies to the questions displayed below.] For the current year, Platoon Games has the following inventory transactions related to

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Required information [The following information applies to the questions displayed below.] For the current year, Platoon Games has the following inventory transactions related to its traditional board games. Platoon Games uses a periodic inventory system. Date January 1 March 12 September 17 Transactions Beginning inventory Purchase Purchase January 1 to December 31 Sales Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold I Units Unit Cost Total Cost 104 $20 78 15 $2,080 1,170 48 8 384 230 $3,634 158

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