Question

Consider the following information for Maynor Company, which uses a periodic inventory system TransactionUnits Unit Cost Total Cost January 1 March 28 August 22 October 14 Beginning Inventory 13 Purchase Purchase Purchase 23 26 31 $63 69 73 79 S 819 1,587 1,898 2,449 Goods Available for Sale 93 $6,753 The company sold 31 units on May 1 and 26 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