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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 Activities Beginning inventory February
Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Activities Beginning inventory February 10 March 13 Purchase March 15 August 21 September 5 Purchase Sales Purchase Purchase September 10 Sales Totals Units Sold at Retail Units Acquired at Cost 605 units 410 units 205 units @$45.00 per unit @ $42.00 per unit @ $27.00 per unit 820 units $75.00 per unit 105 units 505 units @$50.00 per unit @$46.00 per unit 610 units $75.00 per unit 1,830 units 1,430 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. Ending inventory units
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