ACCT 216 problem – Robotics, Inc.’s

| September 28, 2018

ACCT216Suppose Robotics, Inc.’s inventory records for a particular item indicated the following transactions in September:September 1 Beginning Inventory 6 units @ $29September 10 Purchase 19 units @ $32September 22 Purchase 12 units @ $30September 27 Purchase 4 units @ $31Required: The company sold 22 units on September 30. Compute the ending inventory and cost of goods sold using each of the following methods:1. LIFO2. FIFO3. Average Cost

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