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Answer #3 please Problem 6-3A (Algo) Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year
Answer #3 please
Problem 6-3A (Algo) Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Required: 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, and (d) specific identification. (For specific identification, units sold consist of 560 units from beginning inventory, 340 from the February 10 purchase, 140 from the March 13 purchase, 130 from the August 21 purchase, and 260 from the September 5 purchase.) Complete this question by entering your answers in the tabs belowStep by Step Solution
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