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
January 1	Beginning inventory	640	units	@ $45.00 per unit
February 10	Purchase	480	units	@ $42.00 per unit
March 13	Purchase	240	units	@ $27.00 per unit
March 15	Sales				960	units	@ $75.00 per unit
August 21	Purchase	140	units	@ $50.00 per unit
September 5	Purchase	540	units	@ $46.00 per unit
September 10	Sales				680	units	@ $75.00 per unit
	Totals	2,040	units		1,640	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 640 units from beginning inventory, 340 from the February 10 purchase, 240 from the March 13 purchase, 90 from the August 21 purchase, and 330 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.

c.) Weighted Average

d.) Specific Identification

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.

FIFO = Sales, Less: Cost of goods sold, Gross profit

LIFO = Sales, Less: Cost of goods sold, Gross profit

Weighted Average = Sales, Less: Cost of goods sold, Gross profit

Specific Identification = Sales, Less: Cost of goods sold, Gross profit