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  3. consider the following information for maynor comp

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

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Accounting

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

Transaction Units Unit Cost Total Cost
January 1 Beginning Inventory 29 $ 79 $ 2,291
March 28 Purchase 39 85 3,315
August 22 Purchase 58 89 5,162
October 14 Purchase 63 95 5,985
Goods Available for Sale 189 $ 16,753

The company sold 63 units on May 1 and 58 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
Cost of Goods Sold
b.

LIFO.

Ending Inventory

Cost of Goods Sold

c. Weighted Average. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)
Ending Inventory
Cost of Goods Sold

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