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Consider the following information for Maynor Company, which uses a periodic inventory system: Units Unit Cost Total Cost Transaction Beginning Inventory Purchase 25 $75
Consider the following information for Maynor Company, which uses a periodic inventory system: Units Unit Cost Total Cost Transaction Beginning Inventory Purchase 25 $75 January 1 March 28 August 22 October 14 $ 1,875 35 81 2,835 Purchase 50 85 4,250 Purchase 55 91 5,005 Goods Available for Sale 165 $13,965 The company sold 55 units on May 1 and 50 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 < Required A Required B >
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