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calculate weighjted average, FIFO, LIFO, speciifc i dentification. financial accounting homework Exam 13. Chapters 7.9 Given the following information for Maynor Company in 2011, calculate
calculate weighjted average, FIFO, LIFO, speciifc i dentification. financial accounting homework
Exam 13. Chapters 7.9 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) 012025 Beginning Inventory Units Unit Cost 21 $ 60 Total Cost $ 1,260 2011 Jan 1 Purchases March 28 Aug 22 Oct 14 2066 Purchase Purchase Purchase 31 1,320 2,170 2.736 36 76 Goods Available for Sale 108 $ 7,486 Sales May 1 October 28 Sales Sales 36 Unit Sales Price $100 100 Revenue $3,600 3.100 31 Total Revenue $6,700 Exam 13. Chapters 7.9 Revenue (a) Weighted Average. (Round your intermediate calculations and final answers to 2 decimal places. Omit the "$" sign in your response.) 301.2018 Ending inventory Cost of goods sold Gross profit (b) FIFO (Omit the "S" sign in your response.) Ending inventory Cost of goods sold Gross profit (C) LIFO. (Omit the "$" sign in your response.) Ending inventory Cost of goods sold Gross profit $66,5 $70, and 9 (d) Specific Identification. (The ending inventory consisted of 27 $76) (Omit the "S" sign in your response.) Ending inventory Cost of goods sold Gross profit Step by Step Solution
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