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

$\backslash$table$[[,$Transaction,Units,Unit Cost,Total Cost$],[$January $1,$Beginning Inventory,$15,$$$55,975],[$March $28,$Purchase,$25,71,775,],[$August $22,$Purchase,$30,75,2,250],[$October $14,$Purchase,$35,81,2,835],[$Goods Available for Sale,,$105,$$$7,835,]]$

The company sold $35$ units on May $1$ and $30$ 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$.$ Weighted Average

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Required A

Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.

Ending Inventory

Cost of Goods Sold