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

	Transaction	Units		Unit Cost			Total Cost
January 1	Beginning Inventory	31		$	81		$	2,511
March 28	Purchase	41			87			3,567
August 22	Purchase	62			91			5,642
October 14	Purchase	67			97			6,499
Goods Available for Sale		201					$	18,219

The company sold 67 units on May 1 and 62 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

LIFO

Ending Inventory
Cost of Goods Sold

1. Weighted Average

• Required C

Weighted Average (Round the per unit cost to two decimal places and then round your answers to the nearest whole dollar.)

Ending Inventory
Cost of Goods Sold