DEVRY ACCT 216 Week 4 Homework

1
DEVRY ACCT 216 Week 4 Homework

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• Suppose Robotics, Inc.s inventory records for a
  particular item indicated the following
  transactions in SeptemberSeptember 1  
   Beginning Inventory    10 units _at_ 29September
  9    Purchase    18 units _at_ 32September 23  
   Purchase    9 units _at_ 30September 28  
   Purchase    6 units _at_ 31Required The company
  sold 24 units on September 30. Compute the ending
  inventory and cost of goods sold using each of
  the following methods1.LIFO2.FIFO3.Average
  CostHello fellow students of ACCT 216 This is
  week 4s homework assignment. By now you should
  be familiar with the Inventory Costing Methods,
  and if youre not, I recommend you refer to your
  textbook for more detailed examples.This is not
  as complicated as it appears but it is a bit
  tricky, once you understand the methods you will
  find they are quite fun. Inventory is one of my