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Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 26 $

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

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 26 $ 76 $ 1,976
March 28 Purchase 36 82 2,952
August 22 Purchase 52 86 4,472
October 14 Purchase 57 92 5,244
Goods Available for Sale 171 $ 14,644

The company sold 57 units on May 1 and 52 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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