1 8 02:35:37 Given the following information for Maynor Company in 2011, calculate the company's ending inventory, cost of goods sold and gross profit, using the following inventory costing methods, assuming the company uses a periodic inventory system: (Note: The sum of cost of goods sold and ending inventory might not add up due to rounding) 2011 Units Unit Cost Total Cost Jan 1 Beginning 24 Inventory $ 60 $ 1,440 Purchases March 28 Purchase 20 66 1,320 Aug 22 Purchase 34 70 2,380 Oct 14 Purchase 39 76 2,964 Goods Available for Sale 117 $ 8,104 Sales May 1 Sales October 28 Sales 39 34 Unit Sales Price $100 100 Revenue $ 3,900 3,400 Total Revenue 73 $ 7.300 TI (a) Weighted Average. (Round your intermediate calculations and final answers to 2 2 Last year bell-bottom jeans were fashionable and this year bootcut jeans are. A retail company's inventory has 725 bell-bottom jeans that cost $15.75 each and could be replaced for $1775. The inventory also includes 1,350 bootcut jeans that cost $18.75 each and could be replaced for $16.75. Prepare the journal entry that would be used to make the adjustment, and show the effects of the adjustment on the accounting equation. (Leave no cells blank; if no effect, select "NE" Omit the "S" sign in your response.) 8 02:30:49 General Journal Debit Credit (Click to select) (Click to select) Assets Inventory Liabilities + Stockholders' Equity Cost of goods Click to select (Click to select sold