Che Montoure Company uses a perpetual inventory system. It entered into the following calendar year purchases and sales transactions Units Sold at Retail Units Acquired at cost 600 units 560 per unit 400 units@ $57 per unit 150 units 545 per unit Date Activities Jon. 1 Beginning inventory Feb le Purchase Mar. 13 Purchase Mac. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 750 units@ $85 per unit 150 units@ $65 per unit 450 units 561 per unit 1,750 units 600 units 585 per unit 1,350 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory Ending inventory units 3. Compute the cost assigned to ending inventory using (a) FFO. (O) LIFO ( weighted average, and a specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 330 from the February 10 purchase, 150 from the March 13 purchase. 100 from the August 21 purchase, and 200 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Weighted Average Specific id Compute the cost assigned to ending Inventory using FIFO, (Round your average cost per unit to 2 decimal places.) Perpetual FIFO Perpetual FIFO: Goods Purch sed al Onits Date Cost per Cost of Goods Sold # of units Cost per cost of Goods Sold sold unit Inventory Balance Inventory tot unito unit Balance 600 @ $ 60.00 = $ 36,000.00 Cost per Jan 1 Feb 10 600] Mar 13 Mar 15 Aug 21 Sept 5 C Mar 15 Aug 21 Sept5 Sept 10 Total 0.00 0.00 Perpetual LIFO: Cost of Goods Sold Goods Purchased of units unt Date Cost per #ol units sold Cost per unit Cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 600 @ $ 60.00 $36,000.00 Jan 1 Feb 10 Mar 13 Mar 15 Aug 21 Mar 15 Aug 21 Sopts Sept 10 Totals 5 0.00 Perpetual FIFO Weighted Average > Weighted Average Perpetual: Goods Purchased Date #ot Cost per # of units sold Cost of Goods Sold Cost per Cost of Goods Sold unit Cost per Inventory Balance #of units Inventory Balance 600 @ $ 60.00 $ 36,000.00 Jan 1 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept5 Date ol Cost per LOST OT Goods Solo # of units sold unit units Cost per cost of Goods Sold Cost of units Jan 1 Inventory Balance $36,000.00 uni $ 60.00 = 600 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sop 10 Totals 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 330 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Spucilic Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per W of units sold Cost per Cost of of units Goods unit Available for Sale 600 56000 $ 27.000 Cost per Cost of Goods Sold unit of units in ending Inventory unit Ending Inventory 0 $ 60.005 0 330 157 00 3.990 Beginning inventory Purchases Feb 10 March 13 Aug 21 Sep 5 Total 400 S 57.00 150 $ 45.00 150 $ 65.00 450 $ 6100 1.750 16.800 5.400 5.000 23.000 $ 77200 10.310 0 0 0 $. 18.810 705 5700 $ 45.00 $ 65.00 $61.00 70 0 0 $ 3.990 330
