[The following information applies to the questions displayed below] For the current year, Walker Games has the following inventory transactions related to its traditional board games. Walker Games uses a periodic inventory system. Transactions Beginning inventory Purchase Purchase Date January 1 March 12 September 17 January 1 to December 31 Sales Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold Units Unit Cost 106 $21 77 16 47 9 230 157 Total Cost $2,226 1,232 423 $3,881
[The following information applies to the questions displayed below] For the current year, Walker Games has the following inventory transactions related to its traditional board games. Walker Games uses a periodic inventory system. Transactions Beginning inventory Purchase Purchase Date January 1 March 12 September 17 January 1 to December 31 Sales Required: 1. Using FIFO, calculate ending inventory and cost of goods sold. Ending inventory Cost of goods sold Units Unit Cost 106 $21 77 16 47 9 230 157 Total Cost $2,226 1,232 423 $3,881
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[The following information applies to the questions displayed below]
For the current year, Walker Games has the following inventory transactions related to its traditional board games. Walker Games uses a periodic inventory system.
Transactions
Beginning inventory
Purchase
Purchase
Date
January 1
March 12
September 17
January 1 to December 31
Sales
Required:
1. Using FIFO, calculate ending inventory and cost of goods sold.
Ending inventory
Cost of goods sold
Units
Unit Cost
106
$21
77
16
47
9
230
157
Total Cost
$2,226
1,232
423
$3,881](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff912a3a7-3f4c-42a8-b456-7d7f6fa304a3%2F78ca71db-db39-465f-a915-bef271eedb34%2Fylmhejp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below]
For the current year, Walker Games has the following inventory transactions related to its traditional board games. Walker Games uses a periodic inventory system.
Transactions
Beginning inventory
Purchase
Purchase
Date
January 1
March 12
September 17
January 1 to December 31
Sales
Required:
1. Using FIFO, calculate ending inventory and cost of goods sold.
Ending inventory
Cost of goods sold
Units
Unit Cost
106
$21
77
16
47
9
230
157
Total Cost
$2,226
1,232
423
$3,881
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