| Riddle’s Radiantly Revitalized Robes purchases robes from suppliers, bedazzles them, and then sells to witches and wizards who truly want to stand out. Riddle uses a periodic inventory system and has hired you as a consultant to help with their inventory management and accounting. They have provided their inventory transactions for the past year (purchases and sales) and asked that you provide the following: (1) Ending inventory, Cost of Goods Sold, and Gross Profit for three different inventory costing methods (FIFO, LIFO and Average Cost)(2) Three graphs to help management understand the differences between the inventory costing methods (a separate graph for ending inventory, cost of goods sold and gross profit)(3) Your recommendation of what inventory costing method they should use and WHY. Any additional insights you have would be greatly appreciated. You will NOT be able to edit the sales or purchases data or add a new sheet. You should be able to do any work (calculations, creating formulas, etc.) in any empty cell in the purchases and sales sheets. An additional sheet is provided that you can use for doing any work, but you do not need to use that sheet.After completing the requirements below, save the file and submit on Canvas.
APA
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The post Riddle’s Radiantly Revitalized Robes purchases robes from suppliers, bedazzles them, and then sells to witches and wizards who truly want to stand out. Riddle uses a periodic inventory system and has hired you as a consultant to help with their inventory management and accounting. appeared first on Apax Researchers.