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Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 February 10 Activities Beginning
Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 February 10 Activities Beginning inventory Units Acquired at Cost Units Sold at Retail 700 units Purchase March 13 Purchase 600 units 300 units @$45.00 per unit @ $42.00 per unit @$27.00 per unit March 15 Sales 1,200 units @ $75.00 per u August 21 Purchase September 5 Purchase 200 units 600 units @ $50.00 per unit @ $46.00 per unit September 10 Sales Totals 2,400 units 800 units 2,000 units @ $75.00 per u 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
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