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Erika HerreraACCT216Week 4 HomeworkSuppose Robotcs, Inc.’s invenTory records for a partcula

hello i need help on part of LIFO and FIFO i know they are incorrect if you can please help

 ATTACHMENT PREVIEW Download attachmentErika HerreraACCT216Week 4 HomeworkSuppose Robotcs, Inc.’s invenTory records for a partcular iTem indicaTed The followingTransactons in SepTember:SepTember1Beginning InvenTory10 uniTs @ $29SepTember 9Purchase18 uniTs @ $32SepTember 23Purchase9 uniTs @ $30SepTember 28Purchase6 uniTs @ 31Required: ±he company sold 24 uniTs on SepTember 30. CompuTe The ending invenTory and cosTof goods sold using each of The following meThods:1.LIFO2.FIFO3.Average CosTInvenTory = ($29×10)+($32×18)+($30×9)+($31×6) = $13221. LIFO COGS = ($31×6) + ($30×19) = $756, and ending invenTory is 1322- 756 = $566.2. FIFO COGS = ($29×10) + ($32×15) = $770, and ending invenTory is 1322 – 770 = $552.3. Average cosT per uniT is $1,322 divided by 43 = $30.74, so COGS = $30.74 x 24 = $737.76, and endinginvenTory is 1,322 – 737.76 = $584.24

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