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I'm not sure if I got the CGS right for fifo, can you guys help me fill out the rest of these please. thanks. Consider
I'm not sure if I got the CGS right for fifo, can you guys help me fill out the rest of these please. thanks.
Consider the following information for Maynor Company, which uses a perpetual inventory system Transaction Uni Unit Cost Total Cost $68 $1,224 January 1 Beginning Inventory 18 2,072 March 28 Purchase 28 74 August 22 Purchase 2,808 36 78 3,444 October 14 Purchase 41 123 9,548 Goods Available for Sale The company sold 41 units on May 1 and 36 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. a. FIFO. Ending Inventory Cost of Goods Sold 2,926 b. LIFO. Ending Inventory Cost of Goods Sold Weighted Average. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Ending Inventory Cost of Goods SoldStep by Step Solution
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