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Consider the following information for Maynor Company, which uses a perpetual inventory system Transaction UnitsUnit Cost Total Cost January1 March 28 August 22 October 14
Consider the following information for Maynor Company, which uses a perpetual inventory system Transaction UnitsUnit Cost Total Cost January1 March 28 August 22 October 14 Beginning Inventory 18 Purchase Purchase Purchase 28 36 41 $68 74 78 84 $1,224 2,072 2,808 3,444 Goods Available for Sale $ 9,548 The company sold 41 units on May 1 and 36 units on October 28 Required Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods a. FIFO Ending Inventory Cost of Goods Sold b. LIFO Ending Inventory Cost of Goods Sold
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