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Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date Activities January 1 Beginning inventory February
Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date Activities January 1 Beginning inventory February 10 Purchase March 13 Purchase March 15 August 21 Sales Purchase Septeber 5 Purchase: September 10 Sales Totals Units Acquired at Cost Units Sold at Retail 600 units $45 per unit 400 units 200 units $42 per unit $27 per unit 800 units @ $75 per unit 100 units 500 units $50 per unit $46 per unit 1,800 units 600 units $75 per unit 1,400 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 2. Compute the number of units in ending inventory. Ending inventory units units
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