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 600 units @ $45.00 per unit Feb. 10 Purchase 400 units@ $42.ee per unit Mar. 13 Purchase 200 units @ $27.00 per unit 15 Sales 800 units @ $75.ee per unit Aug. 21 Purchase 100 units@ $50.ee per unit Sept. 500 units @ $46.ee per unit Sept. 1e Sales 600 units @ $75.00 per unit Totals 1,800 units 1,400 units Mar. 5 Purchase Required: 1. Compute cost of goods available for sale and the number of units available for sale. Answer is complete and correct. Cost of goods available for sale Number of units available for sale IS 77.200 1.800 units 2. Compute the number of units in ending Inventory. Answer is complete and correct. Ending inventory 400 units 3. Compute the cost assigned to ending Inventory using (a) FIFO, (D) 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, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Answer is complete but not entirely correct. Ending Inventory FIFO IS 18.400 LIFO IS 18.000 Weighted average $ 17.760 X Specific identification $ 18,200 (d) 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.) Answer is complete but not entirely correct. FIFO LIFO Weighted Average IS 105,000 Specific Identification $ 105,000 $ 105,000 IS 105,000 Sales Less: Cost of goods sold Gross profit 58.800 59.200 59,440 59.000 46,000 $ 46.200 $ 45.800 $ 45,560 $