Having trouble with questions 3c and #4..

Please share equations to i can learn. Thanks.

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015

purchases and sales transactions.

Date

Activities

Units Acquired at Cost

Units Sold at Retail

Jan.

1

Beginning inventory

620

units

@

$

45

per unit

Feb.

10

Purchase

310

units

@

$

42

per unit

Mar.

13

Purchase

120

units

@

$

30

per unit

Mar.

15

Sales

770

units

@

$

85

per unit

Aug.

21

Purchase

190

units

@

$

50

per unit

Sept.

5

Purchase

520

units

@

$

48

per unit

Sept.

10

Sales

710

units

@

$

85

per unit

Totals

1,760

units

1,480

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. (Round your average cost per unit to 2 decimal places.)

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.)

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purc hases and sales transactions Units Sold at Retail Date Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Activities Units Acquired at Cost 620 units $ 45 per unit 310 units $ 42 per unit 120 units 30 per unit 770 units 85 per unit 190 units $ 50 per unit 520 units $ 48 per unit 710 units $ 85 per unit Totals 1,760 units 1,480 units