Given the following information for Maynor Company in 2011, calculate the company's ending inventory, cost of goods sold and gross profit, using the following inventory costing methods, assuming the company uses a periodic inventory system: (Note: The sum of cost of goods sold and ending inventory might not add up due to rounding.)

2011

Units

Unit Cost

Total Cost

Jan 1

Beginning Inventory

14

$

60

$

840

Purchases

March 28

Purchase

20

66

1,320

Aug 22

Purchase

24

70

1,680

Oct 14

Purchase

29

76

2,204

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Goods Available for Sale

87

$

6,044

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Sales

Unit Sales Price

Revenue

May 1

Sales

29

$

100

$

2,900

October 28

Sales

24

100

2,400

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Total Revenue

53

$

5,300

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(a)

Weighted Average

Ending inventory

$

Cost of goods sold

$

Gross profit

$

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(b)

FIFO.

Ending inventory

$

Cost of goods sold

$

Gross profit

$

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)

LIFO

Ending inventory$ Cost of goods sold$ Gross profit$

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Specific Identification

Ending inventory

$

Cost of goods sold

$

Gross profit

$

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)

LIFO

Ending inventory$ Cost of goods sold$ Gross profit$

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Specific Identification

Ending inventory	$
Cost of goods sold	$
Gross profit	$