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I filled some numbers in but they may be wrong, please check those as well and fix if needed. Montoure Company uses a periodic inventory

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I filled some numbers in but they may be wrong, please check those as well and fix if needed.

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Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 630 units@ $50.00 per unit Feb. 10 Purchase 415 units@ $47.00 per unit Mar. 13 Purchase 215 units@ $32.00 per unit Mar. 15 Sales 815 units@ $80.00 per unit Aug. 21 Purchase 130 units@ $55.00 per unit Sept. 5 Purchase 530 units@ $51.00 per unit Sept. 10 Sales 660 units@ $80.00 per unit Totals 1,920 units 1,475 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 ,920 units 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 identication. For specific identication units sold consist of 630 units from beginning inventory, 285 from the February 10 purchase, 215 from the March 13 purchase, 65 from the August 21 purchase, and 280 from the September 5 purchase. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) LIFO $ 31.500 Weighted average Specic identication $ 69.630 4. Compute gross prot earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) m s 113.000 $ 113,000 $ 115,000 113,000: Less: Cost of goods sold 69.370 69,815 70,726 69,630 Gross prot :5 48.630 5 48.185 3 48.370 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? . FIFO O LIFO Specific Identification Weighted Average

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