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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Activities Beginning inventory February
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Activities Beginning inventory February 10 Purchase Purchase March 13 March 15 August 21 September 5 Sales Purchase Purchase September 10 Sales Totals Units Acquired at Cost 600 units @ $35 per unit 300 units @ $32 per unit 150 units @ $20 per unit 190 units @ $40 per unit 540 units @ $37 per unit 1,780 units Units Sold at Retail 725 units @ $80 per unit 730 units @$80 per unit 1,455 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
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