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DEVRY ACCT 216 W EEK 4 H OMEWORK Check this A+ tutorial guideline at homeworkhttp://www.assignmentcloud.com/acct-216/acct-216-week-4-

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Presentation on theme: "DEVRY ACCT 216 W EEK 4 H OMEWORK Check this A+ tutorial guideline at homeworkhttp://www.assignmentcloud.com/acct-216/acct-216-week-4-"— Presentation transcript:

1 DEVRY ACCT 216 W EEK 4 H OMEWORK Check this A+ tutorial guideline at http://www.assignmentcloud.com/acct-216/acct-216-week-4- homeworkhttp://www.assignmentcloud.com/acct-216/acct-216-week-4- homework For more classes visit http://www.assignmentcloud.com Suppose Robotics, Inc.’s inventory records for a particular item indicated the following transactions in September: September 1 Beginning Inventory 10 units @ $29 September 9 Purchase 18 units @ $32 September 23 Purchase 9 units @ $30 September 28 Purchase 6 units @ 31 Required: The company sold 24 units on September 30. Compute the ending inventory and cost of goods sold using each of the following methods: 1.LIFO 2.FIFO 3.Average Cost Hello fellow students of ACCT 216: This is week 4’s homework assignment. By now you should be familiar with the Inventory Costing Methods, and if you’re 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


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