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a. FIFO Ending Inventory = Cost of Goods Sold = b. LIFO Ending Inventory = Cost of Goods Sold = c. Weighted Average Ending Inventory
a. FIFO
Ending Inventory =
Cost of Goods Sold =
b. LIFO
Ending Inventory =
Cost of Goods Sold =
c. Weighted Average
Ending Inventory =
Cost of Goods Sold =
Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Units Unit Cost Total Cost $67 73 January 1 March 28 August 22 October 14 Beginning Inventory 17 Purchase Purchase Purchase 27 34 39 $1,139 1,971 2,618 3,237 83 Goods Available for Sale $8,965 The company sold 39 units on May 1 and 34 units on October 28 Required Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.)
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