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Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 33 $
Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 33 $ 83 $ 2,739 March 28 Purchase 43 89 3,827 August 22 Purchase 66 93 6,138 October 14 Purchase 71 99 7,029 Goods Available for Sale 213 $ 19,733 The company sold 71 units on May 1 and 66 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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