Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 610 units @ $40.00 per unit 405 units @ $37.00 per unit 205 units @ $22.00 per unit 110 units @ $45.00 per unit 510 units@ $41.00 per unit 805 units@ $70.00 per unit 620 units @ $70.00 per unit 1,425 units 1,840 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 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, ( weighted average, and (d) 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, () weighted average, and (d) specific identification. For specific identification units sold consist of 610 units from beginning inventory, 295 from the February 10 purchase, 205 from the March 13 purchase, 55 from the August 21 purchase, and 260 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.) Ending Inventory (a) FIFO (b) LIFO (C) Weighted average (d) Specific identification 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.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? Weighted Average Specific Identification O FIFO OLIFO