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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 21 $

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

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 21 $ 71 $ 1,491
March 28 Purchase 31 77 2,387
August 22 Purchase 42 81 3,402
October 14 Purchase 47 87 4,089
Goods Available for Sale 141 $ 11,369

The company sold 47 units on May 1 and 42 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.

FIFO

LIFO

Weighted Average

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