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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Jan. 1 Beginning inventory Units
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Jan. 1 Beginning inventory Units Acquired at Cost Units Sold at Retail Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 680 units @ $40 per unit 320 units @ $35 per unit 100 units @ $23 130 units @ $45 490 units @ $41 per unit per unit per unit 720 units @ $75 per unit 1,720 units 620 units@ $75 per unit 1,340 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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