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Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale
Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 25 35 50 55 165 Unit Cost $ 75 81 85 91 Total Cost $ 1,875 2,835 4,250 5,005 $13,965 The company sold 55 units on May 1 and 50 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 Complete this question by entering your answers in the tabs below. Required A Required B Required FIFO Ending Inventory Cost of Goods Sold Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 25 35 50 55 165 | | Unit Cost Total Cost $ 75 $ 1,875 81 2,835 85 4,250 91 5,005 $13,965 The company sold 55 units on May 1 and 50 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 Complete this question by entering your answers in the tabs below. Required A Required B Required C LIFO Ending Inventory Cost of Goods Sold Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 25 35 50 55 165 Unit Cost $ 75 81 85 91 Total Cost $ 1,875 2,835 4,250 5,005 $13,965 The company sold 55 units on May 1 and 50 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 Complete this question by entering your answers in the tabs below. Required A Required B Required C Weighted Average (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Ending Inventory Cost of Goods Sold
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