Ending inventory and cost of good sold

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Reference no: EM13912097

Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 24 $ 74 $ 1,776 March 28 Purchase 34 80 2,720 August 22 Purchase 48 84 4,032 October 14 Purchase 53 90 4,770 Goods Available for Sale 159 $ 13,298 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. ENDING INVENTORY AND COST OF GOOD SOLD

b. LIFO. ENDING INVENTORY AND COST OF GOOD SOLD

c. Weighted Average. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) ENDING INVENTORY AND COST OF GOOD SOLD

Reference no: EM13912097

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