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

Jan.

1

Beginning inventory

730

units

@ $55.00 per unit

Feb.

10

Purchase

465

units

@ $52.00 per unit

Mar.

13

Purchase

265

units

@ $37.00 per unit

Mar.

15

Sales

865

units

@ $85.00 per unit

Aug.

21

Purchase

230

units

@ $60.00 per unit

Sept.

5

Purchase

630

units

@ $56.00 per unit

Sept.

10

Sales

940

units

@ $85.00 per unit

Totals

2,320

units

1,805

units

Required: 1. Compute cost of goods available for sale and the number of units available for sale.

2. Compute the number of units in ending inventory.

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 730 units from beginning inventory, 235 from the February 10 purchase, 265 from the March 13 purchase, 115 from the August 21 purchase, and 460 from the September 5 purchase. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.)

4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.)