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Consider the following Information for Maynor Company, which uses a perlodic Inventory system: Transaction Beginning Inventory Purchase ITI Units Unit Cost Total Cost S B5
Consider the following Information for Maynor Company, which uses a perlodic Inventory system: Transaction Beginning Inventory Purchase ITI Units Unit Cost Total Cost S B5 $ 2,975 January 1 March 28 35 4,095 6, 650 45 91 August 22 Purchase 70 95 75 7,575 October 14 Purchase 101 225 $21, 295 Goods Available for Sale The company sold 75 units on May 1 and 70 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. Welghted Average
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