This document outlines steps to determine costs assigned to inventory and cost of goods sold using different inventory costing methods. It instructs the user to log in, access a class, and complete a knowledge check practice on determining costs under FIFO and LIFO inventory methods, and computing gross margin under each.

1. Example:
Hemming uses a perpetual inventory system.
1.
Determine the costs assigned to ending inventory and to cost of
goods sold using FIFO.
2.
Determine the costs assigned to ending inventory and to cost of
goods sold using LIFO.
3.
Compute the gross margin for FIFO method and LIFO method.
Steps
Log In (Will Provide)
Go to Class - ACC/291T
Wk 2 - Practice: Connect Knowledge Check [due Day 5]
Launch
Begin
Continue