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Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units January 1 Unit Cost Total Cost Beginning Inventory March 28
Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units January 1 Unit Cost Total Cost Beginning Inventory March 28 10 $ 60 $ 600 Purchase 20 66 August 22 1,320 Purchase October 14 1,400 Purchase 25 1,900 Goods Available for Sale $ 5,220 20 70 76 75 The company sold 25 units on May 1 and 20 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 Calculate the company's ending Inventory and cost of goods sold using the FIFO inventory costing method. Ending Inventory Cost of Goods Sold Fleurs Required B > Consider the following information for Maynor Company, which uses a perpetual Inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 10 20 20 Unit Cost $ 60 66 70 76 Total Cost $ 600 1,320 1,400 1,900 $ 5,220 25 75 The company sold 25 units on May 1 and 20 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 Calculate the company's ending Inventory and cost of goods sold using the LIFO inventory costing method Ending Inventory Cost of Goods Sold Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 10 20 20 25 Unit Cost $ 60 66 70 76 Total Cost $ 600 1,320 1,400 1,900 $ 5,220 75 The company sold 25 units on May 1 and 20 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 Calculate the company's ending inventory and cost of goods sold using the weighted Average Inventory costing method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Ending Inventory Cost of Goods Sold
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