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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 Cost of Goods Sold
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 Problem 7-203 [LO 7-3] Consider the following information for Maynor Company, which uses a periodic inventory system: Units Transaction Unit Cost 84 90 94 100 Total Cost $ 2,856 3,960 6,392 7,300 January 1 March 28 August 22 October 14 Beginning Inventory 34 Purchase Purchase Purchase 44 68 73 219 $20,508 Goods Available for Sale The company sold 73 units on May 1 and 68 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 dol lar.)
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