Consider the following information for Maynor Company,which uses a perpetual inventory system:
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.
Part a.FIFO
Part b.LIFO
Part c.Weighted Average
Correct Answer:
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Cost of Goods Sold: ...
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