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Compute the ending inventory and cost of goods sold

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Reference no: EM13660089

Suppose Robotics, Inc.'s inventory records for a particular item indicated the following transactions in September:

September 1 Beginning Inventory 6 units @ $29
September 10 Purchase 19 units @ $32
September 22 Purchase 12 units @ $30
September 27 Purchase 4 units @ $31

Required: The company sold 22 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

Reference no: EM13660089

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