Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Units...
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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 16 $66 March 28 Purchase August 22 Purchase October 14 Purchase 26 32 37 72 76 82 $1,056 1,872 2,432 3,034 Goods Available for Sale $8,394 The company sold 37 units on May 1 and 32 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
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