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Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost $ 80 January 1 March 28 August 22 October 14
Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost $ 80 January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 30 40 60 65 195 86 90 96 Total Cost $ 2,400 3,440 5,400 6,240 $17,480 The company sold 65 units on May 1 and 60 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 b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C FIFO Ending Inventory Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required A Required B Required C LIFO Ending Inventory Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required A Required B Required C Weighted Average (Round the per unit cost to two decimal places and then round your answers to the nearest whole dollar.) Ending Inventory Cost of Goods Sold
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