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Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 23 $

Consider the following information for Maynor Company, which uses a periodic inventory system:

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 23 $ 73 $ 1,679
March 28 Purchase 33 79 2,607
August 22 Purchase 46 83 3,818
October 14 Purchase 51 89 4,539
Goods Available for Sale 153 $ 12,643

The company sold 51 units on May 1 and 46 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.

  1. FIFO
  2. LIFO
  3. Weighted Average

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