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question consider the following information for maynor company which uses a periodic 4286363

Question

Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost Total Cost January 1 nning Inventory 15 $65 975 March 28 Purchase 25 71 1,775 August 22 Purchase 75 2,250 October 14 35 81. 2,835 $7,835 Goods Available for Sale 105 The company sold 35 units on May 1 and 30 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 two decimal places and then round your answer to the nearest whole dollar.) a. FIFO: Ending Inventory Cost of Goods Sold

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