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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 1Beginning Inventory27$ 77$ 2,079March 28Purchase37833,071August 22Purchase54874,698October 14Purchase59935,487Goods Available for Sale177$ 15,335The company sold 59 units on May 1 and 54 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. FIFOb. LIFOc. Weighted Average
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