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Montoure Company uses a perpetual inventory system. It entered into the following calendar year purchases and sales transactions Units Sold at Retail Units Acquired at
Montoure Company uses a perpetual inventory system. It entered into the following calendar year purchases and sales transactions Units Sold at Retail Units Acquired at Cost 589 units@ $40 per unit 420 units@ $38 per unit 180 units @ $25 per unit Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 1e Sales Totals 755 units @ 570 per unit 190 units@ $45 per unit 560 units @ $41 per unit 250 units @ $70 per unit 1,505 units 1,930 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. (bLIFO. (c) weighted average, and (d) specific Identification. For specific identification, units sold consist of 580 units from beginning inventory, 320 from the February 10 purchase, 190 from the March 13 purchase, 140 from the August 21 purchase, and 285 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO perpetual LIF Weight Average Specfie la Compute the cast assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LiFO: Goodt Purchagad Coct of Good Bold Inventory Balando Date of units eott per unit Hof units Gold Cott per unit Doct of Goode sold of unit COGE por unit $40.00 Inventory Balanda Han 69 5 2.200.00 Fab 10 220 $10.00 28200.00 80 4200 DO = $ 3.19000 504 $40.005 22 200.00 20 39.00 10 25.00 0.00 S4300.00 0 $ 1.000.00 12 $20.00 400,00 30 15 140.00 = ka 56.680. $ 17.000.00 190 $43.00 DO 54500 TO alla Sala Sot 100 OG DO 000 OD SON Sno 2 Od ERGOTE DO
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