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Please calculate for all 3. Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Beginning Inventory Purchase Purchase Purchase January
Please calculate for all 3.
Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Beginning Inventory Purchase Purchase Purchase January 1 March 28 August 22 October 14 Goods Available for Sale Units 24 34 48 53 Unit Cost Total Cost $ 74 $ 1,776 2,720 84 4,032 90 4,770 $13,298 80 159 The company sold 53 units on May 1 and 48 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 b. LIFO c. Weighted AverageStep by Step Solution
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