Question: Consider the following information for Maynor Company, which uses a <a href=perpetual inventory system: T…” />Question: Consider the following information for Maynor Company, which uses a perpetual inventory system: T...

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Show transcribed image text Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost 1,679 January 1 Beginning Inventory 23 2,607 33 March 28 Purchase 79 August 22 Purchase 46 83 3,818 51 October 14 Purchase 89 4,539 153 Goods Available for Sale 12,643 The company sold 51 units on May 1 and 46 units on October 28. Required Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods a. FIFO Ending Inventory Cost of Goods Sold

Consider the following information for Maynor Company, which uses a perpetual inventory system: Transaction Units Unit Cost Total Cost 1,679 January 1 Beginning Inventory 23 $73 2,607 33 March 28 Purchase 79 August 22 Purchase 46 83 3,818 51 October 14 Purchase 89 4,539 153 Goods Available for Sale 12,643 The company sold 51 units on May 1 and 46 units on October 28. Required Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods a. FIFO Ending Inventory Cost of Goods Sold

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