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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purchases and sales transactions Date Jan. Beginning inventory Feb. 1O Purchase

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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purchases and sales transactions Date Jan. Beginning inventory Feb. 1O Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Activities Units Acquired at Cost Units Sold at Retail 630 units@$50 per unit 370 units $46 per unit per unit 100 units $34 740 units @ $75 per unit 160 units @ $55 per unit per unit 520 units$ 51 per unit 680 units$75 Totals 1,780 units 1,420 units Required: 1. Compute cost of goods available for sale and the number of units available for sale Cost of goods available for sale S 87,240 Number of units available for sale 1,780 units 2. Compute the number of units in ending inventory. Ending inventory 360 units 3.Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and ( specific identification. For specific identification units sold consist of 630 units from beginning inventory, 270 from the February 10 purchase, 100 from the March 13 purchase, 110 from the August 21 purchase, and 310 from the September 5 purchase. Round your average cost per unit to 2 decimal places.) Ending Inventory (a) FIFCo (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.) WeightedS Average Specific Identification FIFO LIFO Sales Less: Cost of goods sold Gross profit

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