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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 March 13 Purchase Purchase March 15 August 21 September 5 Sales Purchase Purchase September 10 Sales Totals Units Sold at Retail Units Acquired at Cost 540 units @ $55 per unit 460 units @ $53 per unit 100 units $40 per unit 745 units @ $80 per unit 170 units @ $61 per unit 430 units @ $54 per unit 1,700 units 600 units @ $88 per unit 1,345 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Answer is complete but not entirely correct. Cost of goods available for sale $ 90,670 Number of units available for sale 1,700 units 2. Compute the number of units in ending inventory. Answer is complete and correct.
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