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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
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. Transactions. Date January 1 Beginning inventory March 12 Purchase September 17 Purchase January 1 to December 31 Sales 2. Using LIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold Units 104 Unit Cost Total Cost $20 $2,080 78 15 1,170 48 B 384 230 $3,634 158
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