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Consider the following information for Maynor Company, which uses a periodic Inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale a. FIFO b. LIFO c. Weighted Average Transaction Beginning Inventory Purchase Purchase Purchase Units 10 20 20 25 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Ending Inventory Cost of Goods Sold Unit Cost $ 60 66 70 76 Total Cost $ 600 1,320 1,400 1,900 $ 5,220 Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.

Consider the following information for Maynor Company, which uses a periodic Inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale a. FIFO b. LIFO c. Weighted Average Transaction Beginning Inventory Purchase Purchase Purchase Units 10 20 20 25 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C Ending Inventory Cost of Goods Sold Unit Cost $ 60 66 70 76 Total Cost $ 600 1,320 1,400 1,900 $ 5,220 Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...
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Consider the following information for Maynor Company, which uses a periodic Inventory systern: January 1 March 28 August 22 October 14 Goods Available for Sale The company sold 25 units on May 1 and 20 units on October 28. Transaction Beginning Inventory Purchase Purchase Purchase a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. Ending Inventory Cost of Goods Sold CICLOS <Required A Units 10 20 20 25 75 * S H Unit Cost $ 60 66 70 76 Total Cost $ 600 Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method. 1,320 1,400 1,900 $ 5,220 Required B >
Transcribed Image Text:Consider the following information for Maynor Company, which uses a periodic Inventory systern: January 1 March 28 August 22 October 14 Goods Available for Sale The company sold 25 units on May 1 and 20 units on October 28. Transaction Beginning Inventory Purchase Purchase Purchase a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. Ending Inventory Cost of Goods Sold CICLOS <Required A Units 10 20 20 25 75 * S H Unit Cost $ 60 66 70 76 Total Cost $ 600 Calculate the company's ending inventory and cost of goods sold using the FIFO inventory costing method. 1,320 1,400 1,900 $ 5,220 Required B >
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