Montoure Company uses a perpetual inventorh system. It entered into the following calaender year purchases and sales transactions

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions, Date Activities Units Acquired at Cout Units sold at Natal January 1 Beginning inventory 620 units $45 per unit February 10 Purchase 310 unite 342 per unit March 13 Purchase 120 units $30 per unit March 15 Sales 770 units $85 per unit August 21 Purchase 190 units $50 per unit September 5 Purchase 520 units 548 per unit September 10 Sales 710 units. $85 per unit Totals 1.760 unita 1,480 units es 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 280 units 3. Compute the cost assigned to ending inventory using (a) FIFO (6) LIFO. (weighted average, and (c) specific identification. (For specific identification, units sold consist of 620 units from beginning inventory, 210 from the February 10 purchase, 120 from the March 13 purchase, 140 from the August 21 purchase, and 390 from the September 5 purchase.) Complete this question by entering your answers in the tabs below. perpetunt FIFO perpetual LIFO Weighted Average Specific id Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO Good Purchased Cont of Goods Sold Inventory Balance Date of units Cost per of units Cost per cost of Goods Sold Nof units Cost per Inventory unit sold unit unit Balance January 1 620 at $ 45,00 - $ 27,900.00 February to Total February 10 March 13 Total March 13 March 15 Total March 15 March 13 Total March 13 March 15 Total March 15 August 21 Total August 21 September 5 Total September 5 September 10 Total September 10 Totals 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.) Weighted LIFO Specific Average Identification Sales Less: Cost of goods sold Gross profit FIFO 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 O FIFO OLIFO Specific identification