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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
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 18 28 36 41 123 Unit Cost $ 68 74 78 84 Total Cost $1,224 2,072 2,808 3,444 $9,548 The company sold 41 units on May 1 and 36 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 3,834 5,714 $ Required A Required B Required A Required B Required C LIFO $ 3,296 Ending Inventory Cost of Goods Sold Required A Required B Required C Weighted Average (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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