Given the following information for Maynor Company in 2011, calculate the company's ending inventory, cost of...

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Given the following information for Maynor Company in 2011, calculate the company's ending inventory, cost of goods sold and gross profit, using the following inventory costing methods, assuming the company uses a periodic inventory system: (Note: The sum of cost of goods sold and ending inventory might not add up due to rounding.) 2011 Units Unit Cost Total Cost Jan 1 Beginning Inventory 23 $ 60 $ 1,380 Purchases March 28 Purchase 20 Aug 22 Purchase Oct 14 Purchase 233 38 626 66 1,320 70 2,310 76 2,888 Goods Available for Sale 114 $ 7,898 Unit Sales Sales May 1 Sales October 28 Sales Revenue Price 33 38 $100 33 100 $3,800 3,300 Total Revenue 71 $ 7,100 a)Weighted Average. (Round your intermediate calculations and final answers to 2 decimal places. Omit the "$" sign in your response.) Given the following information for Maynor Company in 2011, calculate the company's ending inventory, cost of goods sold and gross profit, using the following inventory costing methods, assuming the company uses a periodic inventory system: (Note: The sum of cost of goods sold and ending inventory might not add up due to rounding.) 2011 Units Unit Cost Total Cost Jan 1 Beginning Inventory 23 $ 60 $ 1,380 Purchases March 28 Purchase 20 Aug 22 Purchase Oct 14 Purchase 233 38 626 66 1,320 70 2,310 76 2,888 Goods Available for Sale 114 $ 7,898 Unit Sales Sales May 1 Sales October 28 Sales Revenue Price 33 38 $100 33 100 $3,800 3,300 Total Revenue 71 $ 7,100 a)Weighted Average. (Round your intermediate calculations and final answers to 2 decimal places. Omit the "$" sign in your response.)

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To calculate the ending inventory cost of goods sold COGS and gross profit using the weighted averag... View the full answer