Consider the following information for Maynor Company, which uses a periodic inventory system: Units Unit Cost Total Cost Transaction Beginning Inventory 33 $ 83 $ 2,739 Purchase 43 89 3,827 66 93 6,138 71 99 7,029 213 $ 19,733 January 1 March 28 August 22 October 14 Goods Available for Sale Purchase Purchase The company sold 71 units on May 1 and 66 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costin- a. FIFO b. LIFO c. Weighted Average

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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oblems (Ch 7-10, 7th Ed)
Consider the following information for Maynor Company, which uses a periodic inventory system:
Unit Cost Total Cost
Transaction
Beginning Inventory
Purchase
$ 2,739
3,827
Purchase
6,138
7,029
Purchase
$ 19,733
January 1
March 28
August 22
October 14
Goods Available for
Sale
a. FIFO
b. LIFO
c. Weighted Average
The company sold 71 units on May 1 and 66 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing
# 2
Complete this question by entering your answers in the tabs below.
3
O
Required A Required B Required C
Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.
Ending Inventory
Cost of Goods Sold
$
1
Required A
Saved
Units
33
43
66
71
213
%
5
< Prev
$83
89
93
99
^
6
Required B >
1 of 7
#
MacBook Pro
&
7
Next >
OC
Transcribed Image Text:oblems (Ch 7-10, 7th Ed) Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost Total Cost Transaction Beginning Inventory Purchase $ 2,739 3,827 Purchase 6,138 7,029 Purchase $ 19,733 January 1 March 28 August 22 October 14 Goods Available for Sale a. FIFO b. LIFO c. Weighted Average The company sold 71 units on May 1 and 66 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing # 2 Complete this question by entering your answers in the tabs below. 3 O Required A Required B Required C Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method. Ending Inventory Cost of Goods Sold $ 1 Required A Saved Units 33 43 66 71 213 % 5 < Prev $83 89 93 99 ^ 6 Required B > 1 of 7 # MacBook Pro & 7 Next > OC
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