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Perpetual Inventory System Assignment

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February 18th, 2020
Consider the following information for Maynor Company, which uses a perpetual inventory system: January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase Units 21 31 42 47 Unit Cost Total Cost $ 71 $ 1,491 77 2,387 3,402 4,089 $ 11,369 81 87 141
The company sold 47 units on May 1 and 42 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using each of following inventory costing methods. a. FIFO b. LIFO C. Weighted Average Complete this question by entering your answers in the tabs below. Get Accounting homework help today

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