Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 February 101 Activities Beginning inventory Units Acquired at Cost Units Sold at Retail 645 units @$45.00 per unit Purchase 490 units March 13 March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Purchase 245 units @$42.00 per unit @ $27.00 per unit 980 units $75.00 per 145 units 545 units @ $50.00 per unit $46.00 per unit 2,070 units 690 units $75.00 per 1,670 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. 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 645 units from beginning inventory, 345 from the February 10 purchase, 245 from the March 13 purchase, 95 from the August 21 purchase, and 340 from the September 5 purchase. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount. (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification Ending Inventory 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount. Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific Identification 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? O Specific Identification O FIFO O Weighted Average O LIFO