Homework: Inventories and Cost of Sales Probl... Saved Help Save & Exit Submit Check my work 5 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date 3.57 points eBook January 1 February 10 March 13 Activities Beginning inventory Purchase Purchase Sales Purchase Purchase March 15 August 21 September 5 September 10 Sales Totals Required: Print References Units Acquired at Cost 630 units @ $50 per unit Units Sold at Retail 370 units @ $46 per unit 100 units @ $34 per unit 740 units @ $75 per unit 160 units 520 units $55 per unit @ $51 per unit 1,780 units 680 units @ $75 per unit 1,420 units 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) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (For specific identification, units sold consist of 630 units from beginning inventory, 270 from the February 10 purchase, 100 from the March 13 purchase, 110 from the August 21 purchase, and 310 from the September 5 purchase.)