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Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 32 $

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

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 32 $ 82 $ 2,624
March 28 Purchase 42 88 3,696
August 22 Purchase 64 92 5,888
October 14 Purchase 69 98 6,762
Goods Available for Sale 207 $ 18,970

The company sold 69 units on May 1 and 64 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
  3. Weighted Average

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