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Accounting

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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. Transaction Units Cost Total Cost Date Jan. 1 Mar. 12 Sep. 17 Beginning inventory 114 $%21 $ 2,394 1.392 513 Purchase Purchase 87 57 16 9 258 4,299 Jan. 1-Dec. 31 Sales 167 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 the 91 units of unsold inventory is only $470

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