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

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