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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2 Cook Print des Mc 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
Transcribed Image Text:2 Cook Print des Mc 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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