2 ook Pri Chrowser- a FIFO b. LIFO c. Weighted Average Consider the following information for Maynor Company, which uses a perpetual inventory system: UNLES Unit Cont 25 119 45 91 70 91 35 225 Transaction Beginning Investory Purchase Purchase Purchase unchilif-https%253A%252F%252Fwconnect.educa.com Sent January 11 March 201 August 22 October 14 Goods Available for sale The company sold 75 units on May 1 and 70 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. Required C Complete this question by entering your answers in the tabs below. 101 Total Cost $ 2,975 4,095 6,650 7,575 21,295 Required A Required B Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method Ending Inventory Cost of Goods Sold
2 ook Pri Chrowser- a FIFO b. LIFO c. Weighted Average Consider the following information for Maynor Company, which uses a perpetual inventory system: UNLES Unit Cont 25 119 45 91 70 91 35 225 Transaction Beginning Investory Purchase Purchase Purchase unchilif-https%253A%252F%252Fwconnect.educa.com Sent January 11 March 201 August 22 October 14 Goods Available for sale The company sold 75 units on May 1 and 70 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. Required C Complete this question by entering your answers in the tabs below. 101 Total Cost $ 2,975 4,095 6,650 7,575 21,295 Required A Required B Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method Ending Inventory Cost of Goods Sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Consider the following information for Maynor Company, which uses a perpetual inventory system:
Unite
Unit Cost
35
245
a. FIFO
b. LIFO
c. Weighted Average
con-con&external browser-D&launchUf-https253A%252F%252Fconnect.meducation.com
January 1
March 28
August 22
October 14
Goods Available for sale
The company sold 75 units on May 1 and 70 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
Required A
Transaction
Beginning Inventory
Purchase
Purchase
Purchase
Required
Seved
Complete this question by entering your answers in the tabs below.
Required C
45
70
75
225
Total Cost
$ 2,975
4,095
6,650
7,575
$21,295
91
93
101
Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method
Ending Inventory
Cost of Goods Sold
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