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Montoure Company uses a periodic inventory system. It entered into the following calendar - year purchases and sales transactions. table [ [ Date ,
Montoure Company uses a periodic inventory system. It entered into the following calendaryear purchases and sales transactions.
tableDateActivities,Units Acquired atUnits Sold at RetailJanuary Beginning inventory, units @$ pper unit,February Purchase, units,per unit,March Purchase,@$per unit,March Sales,,,@ $ per unitAugust Purchase,@ $per unit,September Purchase,@ $per unit,September Sales,,, units @$ per unitTotals units,, units
Required:
Compute cost of goods available for sale and the number of units available for sale.
tableCost of goods available for sale,,Number of units available for sale,,units
Compute the number of units in ending inventory.
Ending inventory
units
Compute the cost assigned to ending inventory using a FIFO, b LIFO, c weighted average, and c specific identification. For specific identification, units sold consist of units from beginning inventory, from the February purchase, from the March purchase, from the August purchase, and from the September purchase.
Note: Round your average cost per unit to decimal places. Round your final answers to the nearest whole dollar amount.
tableEnding Inventorya FIFO,b LIFO,
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