Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Units Acquired at Cost @$40 per 680 units unit 320 units @ $37 per unit @ $25 per 170 units unit Mar. 13 Purchase Mar. 15 Sales 800 units @ $85 per unit Aug. 21 Purchase 110 units unit @$45 per Sept. 5 Purchase 470 units @ $42 per unit Sept. 10 Sales Totals 580 units @ $85 per unit 1,380 units 1,750 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. 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO, (C) weighted average, and (d) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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.) Complete this question by entering your answers in the tabs below. Required Required Required Required 1 2 3 4 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 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Units Acquired at Cost 680 units @ $40 per unit 320 units @ $37 per unit 170 units @ $25 per unit Mar. 13 Purchase Mar. 15 Sales 800 units @ $85 per unit Aug. 21 Purchase 110 units @$45 per unit 470 units @ $42 per unit Sept. 5 Purchase Sept. 10 Sales 580 units unit @ $85 per Totals 1,750 units 1,380 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. 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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.) Complete this question by entering your answers in the tabs below. Required Required Required Required 1 2 3 4 Compute the number of units in ending inventory. Ending inventory units Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Units Acquired at Cost 680 units @ $40 per unit 320 units @ $37 per unit 170 units@ $25 per unit Mar. 13 Purchase Mar. 15 Sales 800 units @ $85 per unit Aug. 21 Purchase 110 units a $45 per unit 470 units @ $42 per unit Sept. 5 Purchase Sept. 10 Sales 580 units @ $85 per unit 1,380 units Totals 1,750 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. 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 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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.) Complete this question by entering your answers in the tabs below. Required Required Required Required 1 2 3 4 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 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Show less Ending Inventory (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Units Acquired at Cost @ $40 per 680 units unit @ $37 per 320 units unit @ $25 per 170 units unit Mar. 13 Purchase Mar. 15 Sales 800 units @$85 per unit Aug. 21 Purchase 110 units@ $45 per unit 470 units unit @ $42 per Sept. 5 Purchase Sept. 10 Sales @$85 per 580 units unit 1,380 units Totals 1,750 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. 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 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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.) Complete this question by entering your answers in the tabs below. Required Required Required Required 2 3 1 Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.) FIFO LIFO Weighted Specific Average identification Sales Less: Cost of goods sold Gross profit