Information about the Maxwell Company's inventory of one item during 2019 is given below.

Assuming that Maxwell uses a periodic system, compute the cost of the ending inventory and cost o goods sold under each of the following methods. (Round answers to two decimal places.)
1. Average cost method
2. First in, first out (FIFO)method
3. Last in, first out (LIFO)method

Question

Information about the Maxwell Company's inventory of one item during 2019 is given below.
 
Assuming that Maxwell uses a periodic system, compute the cost of the ending inventory and cost o goods sold under each of the following methods. (Round answers to two decimal places.)
1. Average cost method
2. First in, first out (FIFO)method
3. Last in, first out (LIFO)method

Quizplus · Accepted Answer

The Answer of Information about the Maxwell Company's inventory of one item during 2019 is given below.
 
Assuming that Maxwell uses a periodic system, compute the cost of the ending inventory and cost o goods sold under each of the following methods. (Round answers to two decimal places.)
1. Average cost method
2. First in, first out (FIFO)method
3. Last in, first out (LIFO)method

Information About the Maxwell Company's Inventory of One Item During