Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sa transactions. Units Sold at Retail Units Acquired at Cost Activities Date 720 units e $50.00 per unit 460 units e $47.00 per unit 260 units @ $32.00 per unit 1 Beginning inventory Jan. Feb. 10 Purchase Mar. 13 Purchase 860 units $80.00 per unit Mar. 15 Sales 220 units $55.00 per unit 620 units $51.00 per unit Aug. 21 Purchase 5 Purchase Sept. 920 units e $80.00 per unit Sept. 10 Sales 1,780 units 2,280 units Totals 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 500 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 720 units from beginning inventory, 240 from the February 10 purchase, 260 from the March 13 purchase, 110 from the August 21 purchase, and 450 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.) Ending Inventory (a) LIFO FIFO (b) (c) Weighted average (d) Specific identification 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. Round your final answers to the nearest whole dollar amount.) Weighted Average Specific Identification LIFO FIFO Sales Less: Cost of goods sold Gross profit 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? Weighted Average LIFO FIFO Specific Identification