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 Teb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 560 units e$55 per unit 440 units e $52 per unit 140 units $40 per unit 180 unitse $60 per unit 540 units @ $57 per unit 710 units @ $85 per unit 1,860 units 720 unitse ses per unit 1,430 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 - Compute the number of units in ending Inventory. nding inventory units Check my work 3. Compute the cost assigned to ending inventory using (6) FIFO, (D) LIFO. (weighted average, and a 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. Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per cost of Goods Sold Fof units Cost per Inventory units unit unit Balance Jan 1 560 $ 55.00 $ 30,800.00 sold unit Feb 10 Mar 13 Mar 15 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending Inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance #of Cost per # of units Date Cost per cost of Goods Sold Cost per # of units Inventory units unit sold unit unit Balance Jan 1 560 @ S 55.00 = $ 30,800.00 Feb 10 Mar 13 Mar 15 Aug 21 Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit Jan 1 Cost of Goods Sold # of units Cost per sold Cost of Goods Sold unit Inventory Balance # of units Inventory unit Balance 560 @ $ 55.00 = $ 30,800.00 Cost per Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept5 Sept 10 Totals Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of Inventory, 340 from the February 10 purchase, 140 from the March 13 purchase, 130 from the August 21 purchase, and 2 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Goods unit Available for Sale 560 $ 55,00 $ 27,000 Cost per # of units Cost per unit Cost of Goods Sold Cost per sold # of units In ending Inventory Ending Inventory unit $ 55.00 340 $ 52.00 Beginning inventory Purchases Feb 10 March 13 Aug 21 Sep 5 Total 17,680 5,200 440 $ 52.00 140 $ 40.00 180 $ 60.00 540 $ 57.00 1,860 16,800 5,400 5,000 23,000 $ 77,200 100 $ 52.00 $ 40.00 $ 60.00 $ 57.00
