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Consider the following information for Maynor Company, which uses a periodic inventory system January 1 March 28 August 22 October 14 Goods Available for Sale
Consider the following information for Maynor Company, which uses a periodic inventory system January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 10 20 20 25 75 $ 600 1,320 1,400 1,900 $5,220 $60 70 7 6 The company sold 25 units on May 1 and 20 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to 2 decimal places and then round your answers to the nearest whole dollar.) a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below Required ARequired B Required C FIFO Ending Inventory Cost of Goods Sold
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