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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 March 13 Purchase March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Units Acquired at Cost 700 units @ $50 per unit 350 units @ $44 per unit 150 units Units Sold at Retail $32 per unit 705 units @ $80 per unit 190 units 540 units @ $55 per unit @ $51 per unit 1,930 units 730 units $80 per unit 1,435 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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