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TB Problem 7-196 (Algo) Consider the following information for... Consider the following information for Maynor Company, which uses a periodic inventory system: The company sold
TB Problem 7-196 (Algo) Consider the following information for... Consider the following information for Maynor Company, which uses a periodic inventory system: The company sold 39 units on May 1 and 34 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 Average Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method. Calculate the company's ending inventory and cost of goods sold using the LIFO inventory costing method. Calculate the company's ending inventory and cost of goods sold using the Weighted Average inventory costing method. (Round the per unit cost to two decimal places and then round your answers to the nearest whole dollar.)
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