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Montoure Company uses a perpetual inventory system. It entered into the following calendar - year purchases and sales transactions. table [ [ Date ,
Montoure Company uses a perpetual inventory system. It entered into the following calendaryear purchases and sales transactions.
tableDateActivities,Units Acq,uired at Cost,Units Sold at RetailJanuary Beginning inventory, units,a $ per unit,February Purchase, units,@ $ per unit,March Purchase, units,a $ per unit,March Sales,,, units @ $ per unitAuqust Purchase, units,a $ per unit,September Purchase, units,@ $ per unit,September Sales,,, units @ $ per unitTotals, units,, units
Required:
Compute cost of goods available for sale and the number of units available for sale.
Compute the number of units in ending inventory.
Ending inventory
units
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 units from beginning inventory, from the February purchase, from the March purchase, from the August purchase, and from the September
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NextMontoure Company uses a perpetual inventory system. It entered into the following calendaryear purchases and sales transactions.
Required:
Compute cost of goods available for sale and the number of units available for sale.
tableCost of goods available for sale,$
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