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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Required: 1. Compute cost of goods avaliable for

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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Required: 1. Compute cost of goods avaliable for sale and the number of units avallable for sale. 3. 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 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using fiFO. (Round your average cost per unit to 2 deeimal places.) 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.) 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? FIFO Weighted Average LIFO Specific Identification

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