Question
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units Sold
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 600 units @ $60 per unit Feb. 10 Purchase 400 units @ $57 per unit Mar. 13 Purchase 150 units @ $45 per unit Mar. 15 Sales 750 units @ $85 per unit Aug. 21 Purchase 150 units @ $65 per unit Sept. 5 Purchase 450 units @ $61 per unit Sept. 10 Sales 600 units @ $85 per unit Totals 1,750 units 1,350 units 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.
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