Given the following information for Maynor Company in 2014, 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:

2014

Units

Unit Cost

Total Cost

Jan 1

Beginning Inventory

20

$

38

$

760

Purchases

March 28

Purchase

30

41

1,230

Aug 22

Purchase

30

43

1,290

Oct 14

Purchase

35

46

1,610

Goods Available for Sale

115

$

4,890

Sales

Unit Sales Price

Revenue

May 1

Sales

35

$

58

$

2,030

October 28

Sales

30

58

1,740

Total Revenue

65

$

3,770

a.

Weighted Average: (Do not round intermediate calculations. Round "Average Cost" to 2 decimal places.)

Average Cost
Ending Inventory
Cost of Goods Sold
Gross Profit

b.

FIFO:

Ending Inventory
Cost of Goods Sold
Gross Profit

c.

LIFO:

Ending Inventory
Cost of Goods Sold
Gross Profit

d.

Specific Identification: (The ending inventory consisted of 15 @ $41; 20 @ $43; and 15 @ $46.)

Ending Inventory
Cost of Goods Sold
Gross Profit