1.Compute cost of goods available for sale and the number of units available for sale.

2. Compute the number of units in ending inventory.

3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, (d) specific identification

4. Compute gross profit earned by the company for each of the four costing methods

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases sales transactions Units sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Units Acquired at Cost 600 units @ $60 per unit 480 units @ $57 per unit 120 units @ $42 per unit 785 units @ $80 per unit 180 units @ $65 per unit 470 units @ $63 per unit 650 units @ $80 per unit 1,435 units Totals 1,850 units