I split this big question into two seperate questions cause its a long one. Feel free to answer the second! (on my account)
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 $60 per unit 400 units$57 per unit 150 units@ $45 per unit Date Activities 1 Beginning inventory Jan. Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 750 units $85 per unit 150 units $65 per unit 450 units $61 per unit 630 units $85 per unit 1,380 units 1,750 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 units 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 600 units from beginning inventory, 300 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. Weighted Average Specific Id Perpetual FIFO Perpetual LIFO Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Inventory Balance Cost of Goods Sold Goods Purchased Cost per Inventory Balance # of units sold Cost per Cost of Goods Sold unit Cost per unit # of #of units Date unit units 600 @ $ 36,000.00 $60.00 Jan 1 Feb 10 Mar 13 Mar 15 Mar 15 Aug 21 Sept 5 Sept 10 Totals $ 0.00 $ 0.00 Perpatial FIFO Perpetual LIFO> Compute the cost assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Cost of Goods Sold Inventory Balance Goods Purchased Cost per # of units Cost per Cost of Goods Sold unit Cost per unit # of units Inventory Balance Date # of units unit sold Jan 1 600@ $60.00 $ 36,000.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Mar 15 Aug 21 Sept 5 Sept 10 0 Totals S 0.00