ACC 231: Uses of Accounting Information Marilyn Chavez 8 | 09/10/20 5:07 PM Homework: HW #6 S HW Score: 51.42%, 5.14 of 10 Question Help Score: 0.15 of 1 pt 7 of 10 (7 complete) %E6-17A (similar to) Richmond Company's inventory records for its retail division show the following at January 31: (Click the icon to view the accounting records.) At January 31, 10 of these units are on hand. Read the requirements 20 Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using (a) specific identification, then (b) average cost, then (e) FIFO, and finally (d) LIFO. (Round the average cost per unit to the nearest cont. Round all final answers to the nearest whole dollar) Number (a) (b) (c) of units Specific identification Average cost Cost of goods sold 14 $ 2,194 2,184 Ending inventory $ 1,560 FIFO $ 10 1,550 $ ACC 231: Uses of Accounting Information Marilyn Chavez 8 | 09/10/20 5:07 PM Homework: HW #6 S HW Score: 51.42%, 5.14 of 10 Question Help Score: 0.15 of 1 pt 7 of 10 (7 complete) %E6-17A (similar to) Richmond Company's inventory records for its retail division show the following at January 31: (Click the icon to view the accounting records.) At January 31, 10 of these units are on hand. Read the requirements 20 Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using (a) specific identification, then (b) average cost, then (e) FIFO, and finally (d) LIFO. (Round the average cost per unit to the nearest cont. Round all final answers to the nearest whole dollar) Number (a) (b) (c) of units Specific identification Average cost Cost of goods sold 14 $ 2,194 2,184 Ending inventory $ 1,560 FIFO $ 10 1,550 $