Problem 7-205 [LO 7-3] Consider the following information for Maynor Company, which uses a perpetual...
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Problem 7-205 [LO 7-3] Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 16 26 32 37 111 Unit Cost Total Cost $ 66 $ 1,056 1,872 76 2,432 B2 3,034 $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. a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required c FIFO Ending Inventory Cost of Goods Sold Required A Required B Required A Required B Required C LIFO Ending Inventory Cost of Goods Sold Required A Required B Required 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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