Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.

DateActivitiesUnits Acquired at CostUnits Sold at RetailJan.1Beginning inventory560units@ $55 per unitFeb.10Purchase440units@ $52 per unitMar.13Purchase140units@ $40 per unitMar.15Sales710units@ $85 per unitAug.21Purchase180units@ $60 per unitSept.5Purchase540units@ $57 per unitSept.10Sales720units@ $85 per unitTotals1,860units1,430units

Required:

1.Compute cost of goods available for sale and the number of units available for sale.

2.Compute the number of units in ending inventory.

3.Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and(d) specific identification. For specific identification, units sold consist of 560 units from beginning inventory, 340 from the February 10 purchase, 140 from the March 13 purchase, 130 from the August 21 purchase, and 260 from the September 5 purchase.(Round your average cost per unit to 2 decimal places.)

4.Compute gross profit earned by the company for each of the four costing methods.(Round your average cost per unit to 2 decimal places.)