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Problem 7-203 LO 7-31 Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1
Problem 7-203 LO 7-31 Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 31 $81 2,511 March 28 Purchase 3,567 41 87 91 August 22 Purchase 5,642 6,499 October 14 Purchase 67 97 201 $18,219 Goods Available for Sale The company sold 67 units on May 1 and 62 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.)
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