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Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Beginning Inventory Purchase Units Unit Cost Total Cost 1,491 $71 January
Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Beginning Inventory Purchase Units Unit Cost Total Cost 1,491 $71 January 1 March 28 21 31 77 2,387 August 22 October 14 Purchase 42 3,402 4,089 81 47 Purchase 87 141 $11,369 Goods Available for Sale The company sold 47 units on May 1 and 42 units on October 28. C 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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