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Consider the following information for Maynor Company, which uses a periodic inventory system:TransactionUnitsUnit CostTotal CostJanuary 1 Beginning Inventory 2 7 $ 7 7 $ 2
Consider the following information for Maynor Company, which uses a periodic inventory system:TransactionUnitsUnit CostTotal CostJanuary Beginning Inventory$ $ March PurchaseAugust PurchaseOctober PurchaseGoods Available for Sale$ The company sold units on May and units on October Required:Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.a FIFOb. LIFOc. Weighted Average
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