{"id":200720,"date":"2018-09-13T22:21:09","date_gmt":"2018-09-13T22:21:09","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/13\/acct-216-week-4-homework\/"},"modified":"2018-10-24T09:15:08","modified_gmt":"2018-10-24T09:15:08","slug":"acct-216-week-4-homework","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/acct-216-week-4-homework\/","title":{"rendered":"ACCT 216 Week 4 Homework"},"content":{"rendered":"<p>Homework\u00a0scenario\tSuppose\u00a0Robotics,\u00a0Inc.&#8217;s\u00a0inventory\u00a0records\u00a0for\u00a0a\u00a0particular\u00a0item\u00a0indicated\u00a0the\u00a0following\u00a0transactions\u00a0in\u00a0September:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSeptember\u00a01\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBeginning\u00a0Inventory\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t10\u00a0units\u00a0@\u00a0$29\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSeptember\u00a09\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPurchase\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t18\u00a0units\u00a0@\u00a0$32\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSeptember\u00a023\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPurchase\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t9\u00a0units\u00a0@\u00a0$30\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tSeptember\u00a028\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tPurchase\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t6\u00a0units\u00a0@\u00a031\t\t\t\t\t\t\tRequired:\u00a0The\u00a0company\u00a0sold\u00a024\u00a0units\u00a0on\u00a0September\u00a030.\u00a0Compute\u00a0the\u00a0ending\u00a0inventory\u00a0and\u00a0cost\u00a0of\u00a0goods\u00a0sold\u00a0using\u00a0each\u00a0of\u00a0the\u00a0following\u00a0methods:\t1.LIFO\t2.FIFO\t3.Average\u00a0Cost\tHello\u00a0fellow\u00a0students\u00a0of\u00a0ACCT\u00a0216:\u00a0This\u00a0is\u00a0week\u00a04&#8217;s\u00a0homework\u00a0assignment.\u00a0By\u00a0now\u00a0you\u00a0should\u00a0be\u00a0familiar\u00a0with\u00a0the\u00a0Inventory\u00a0Costing\u00a0Methods,\u00a0and\u00a0if\u00a0you&#8217;re\u00a0not,\u00a0I\u00a0recommend\u00a0you\u00a0refer\u00a0to\u00a0your\u00a0textbook\u00a0for\u00a0more\u00a0detailed\u00a0examples.\u00a0\t\tThis\u00a0is\u00a0not\u00a0as\u00a0complicated\u00a0as\u00a0it\u00a0appears\u00a0but\u00a0it\u00a0is\u00a0a\u00a0bit\u00a0tricky,\u00a0once\u00a0you\u00a0understand\u00a0the\u00a0methods\u00a0you\u00a0will\u00a0find\u00a0they\u00a0are\u00a0quite\u00a0fun.\u00a0Inventory\u00a0is\u00a0one\u00a0of\u00a0my<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homework\u00a0scenario Suppose\u00a0Robotics,\u00a0Inc.&#8217;s\u00a0inventory\u00a0records\u00a0for\u00a0a\u00a0particular\u00a0item\u00a0indicated\u00a0the\u00a0following\u00a0transactions\u00a0in\u00a0September: September\u00a01 Beginning\u00a0Inventory 10\u00a0units\u00a0@\u00a0$29 September\u00a09 Purchase 18\u00a0units\u00a0@\u00a0$32 September\u00a023 Purchase 9\u00a0units\u00a0@\u00a0$30 September\u00a028 Purchase 6\u00a0units\u00a0@\u00a031 Required:\u00a0The\u00a0company\u00a0sold\u00a024\u00a0units\u00a0on\u00a0September\u00a030.\u00a0Compute\u00a0the\u00a0ending\u00a0inventory\u00a0and\u00a0cost\u00a0of\u00a0goods\u00a0sold\u00a0using\u00a0each\u00a0of\u00a0the\u00a0following\u00a0methods: 1.LIFO 2.FIFO 3.Average\u00a0Cost Hello\u00a0fellow\u00a0students\u00a0of\u00a0ACCT\u00a0216:\u00a0This\u00a0is\u00a0week\u00a04&#8217;s\u00a0homework\u00a0assignment.\u00a0By\u00a0now\u00a0you\u00a0should\u00a0be\u00a0familiar\u00a0with\u00a0the\u00a0Inventory\u00a0Costing\u00a0Methods,\u00a0and\u00a0if\u00a0you&#8217;re\u00a0not,\u00a0I\u00a0recommend\u00a0you\u00a0refer\u00a0to\u00a0your\u00a0textbook\u00a0for\u00a0more\u00a0detailed\u00a0examples.\u00a0 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