The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%, P50 par value preferred share. The company sells a product that includes a one-year warranty and records estimated warranty payable each month. The company uses a perpetual inventory system, FIFO method.