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Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction January 1 March 28 Beginning Inventory Purchase August 22 October
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction January 1 March 28 Beginning Inventory Purchase August 22 October 14 Purchase Purchase Goods Available for Sale Units 24 Unit Cost Total Cost $ 74 $ 1,776 34 80 2,720 48 84 4,032 53 90 4,770 159 $ 13,298 The company sold 53 units on May 1 and 48 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing me a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the company's ending inventory and cost of goods sold using the FIFO Inventory costing method. Ending Inventory Cost of Goods Sold
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