Question: HELP Please thanks & EXIT Sub Consider the following information for Maynor Company, which uses a periodic inventory system: Units January 1 March 28 August

HELP Please thanks  HELP Please thanks & EXIT Sub Consider the following information for
Maynor Company, which uses a periodic inventory system: Units January 1 March
28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory
Purchase Purchase Purchase 20 Unit Cost Total Cost $ 60 $ 600

& EXIT Sub Consider the following information for Maynor Company, which uses a periodic inventory system: Units January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase 20 Unit Cost Total Cost $ 60 $ 600 66 1,320 70 1.400 76 1,900 $5,220 The company sold 25 units on May 1 and 20 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to 2 decimal places and then round your answers to the nearest whole dollar) 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 el IU) 1 Saved Help Units 10 January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Unit Cost Total Cost $ 60 $ 600 66 1,320 70 1,400 76 1,900 $5,220 25 The company sold 25 units on May 1 and 20 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing met per unit cost to 2 decimal places and then round your answers to the nearest whole dollar.) 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 $ $ 2,250 2,970 Units 10 January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase 20 Unit Cost Total Cost $ 60 $ 600 66 1,320 70 1,400 76 1,900 $5,220 75 The company sold 25 units on May 1 and 20 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.( per unit cost to 2 decimal places and then round your answers to the nearest whole dollar.) a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C LIFO Ending Inventory Cost of Goods Sold $ $ 1,920 3,300 Transaction Beginning Inventory Purchase Purchase Purchase January 1 March 28 August 22 October 14 Goods Available for Sale Units 10 20 20 Unit Cost Total Cost $ 60 $ 600 66 1,320 70 1.400 76 1,900 $5,220 25 The company sold 25 units on May 1 and 20 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to 2 decimal places and then round your answers to the nearest whole dollar.) a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C Weighted Average Ending Inventory Cost of Goods Sold

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!