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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 680 units @ $40 per unit 320 units @ $37 per unit 170 units @ $25 per unit 110 units @ $45 per unit 470 units @ $42 per unit 1,750 units Units Sold at Retail 800 units @ $85 per unit 580 units @ $85 per unit 1,380 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 1,750 units 2. Compute the number of units in ending inventory. Ending inventory units
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