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Consider the following information for Maynor Company, which uses a periodic inventory system: ...

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Accounting

Consider the following information for Maynor Company, which uses a periodic inventory system:

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 19 $ 69 $ 1,311
March 28 Purchase 29 75 2,175
August 22 Purchase 38 79 3,002
October 14 Purchase 43 85 3,655

Goods Available for Sale 129 $ 10,143

The company sold 43 units on May 1 and 38 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.)

a. FIFO:
Ending Inventory
Cost of Goods Sold

b. LIFO:

Ending Inventory
Cost of Goods Sold

c.

Weighted Average

Ending Inventory
Cost of Goods Sold

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