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Montoure Company uses a periodic inventory system K entered into the following calendar-year 2016 purchases and sales transactions. Required: Compute cost of goods available for
Montoure Company uses a periodic inventory system K entered into the following calendar-year 2016 purchases and sales transactions. Required: Compute cost of goods available for sale and the number of units available for sale Compute the number of units in ending inventory 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 760 units from beginning inventory. 220 from the February 10 purchase. 280 from the March 13 purchase. 130 from the August 21 purchase and 490 from the September 5 purchase (Round your average cost per unit to 2 decimal places.) Compute gross profit earned by the company for each of the four costing methods (Round your average cost per unit to 2 decimal places.)
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