Montoure Company uses a perpetual inventory system. It entered into the following calendar year purchases and sales transactions ts Sold at Retail Units Acquired at Cost 60 units per unit 330 units@ $52 per unit 11e units @ $40 per unit Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 80 units @ $75 per unit 140 units 360 per unit 420 units@ $56 per unit $75 per unit 1,660 units 560 units 1,340 units 40 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 $24.000 320 units 2. Compute the number of units in ending inventory Ending inventory 320 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. ( weighted average, and specific identification. For specific identification, units sold consist of 660 units from beginning inventory 230 from the February 10 purchase, 110 from the March 13 purchase, 90 from the August 21 purchase, and 250 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 (lebund your average cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased of Cost per units unit Cost of Goods Sold Cost per Cost of Goods Sold unit Date of units sold Inventory Balance units Cost per Inventory of units unit Balance 660 @ $55.00 = $ 36,300.00 Jan 1 Feb 10 Mar 13 Mar 15 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.) FIFO L IFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit O SO SOS 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? Weighted Average Specific Identification LIFO FIFO