6 Problem 5-3A Perpetual: Alternative cost flows LO P1 1.7 points Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail 2 01:50:20 Units Acquired at Cost 620 units @ $45 per unit 310 unita & $42 per unit 120 unita @ $30 per unit Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 770 units @ $85 per unit 190 units @ $50 per unit 520 units @ $48 per unit 710 units @ $85 per unit 1,480 units eBook 1,760 units Print Required: 1. Compute cost of goods available for sale and the number of units available for sale. References Cost of goods available for sale Number of units available for sale units 2. Compute the number units in ending inventory. Ending inventory units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (d) specific identification. For specific identification, units sold consist of 620 units from beginning inventory, 210 from the February 10 purchase, 120 from the March 13 purchase, 140 from the August 21 purchase, and 390 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual Perpetual Weighted Specific FIFO LIFO Average Id Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Cost Cost Cost # of Date of units Cost of per Inventory units sold per Goods Sold # of units per unit Balance unit $ Jan 1 $ 620 @ 45.00 27,900.00 Feb 10 es unit Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) FIFO LIFO Weighted Specific Average identificatio Sales Less: Cost of goods sold Gross profit 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? O FIFO OLIFO Specific Identification o Weighted Average