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Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 20 $

Consider the following information for Maynor Company, which uses a periodic inventory system:

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 20 $ 70 $ 1,400
March 28 Purchase 30 76 2,280
August 22 Purchase 40 80 3,200
October 14 Purchase 45 86 3,870

Goods Available for Sale 135 $ 10,750

The company sold 45 units on May 1 and 40 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.)

a. FIFO:

b. LIFO:

c.

Weighted Average

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