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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 January 1 Beginning inventory 668 units @ $68 per unit February 10 Purchase 330 units $57 per unit March 13 Purchase 110 units $45 per unit March 15 Sales 715 units @ $70 per unit August 21 Purchase 160 units @ $65 per unit September 5 Purchase 570 units @ $61 per unit September 10 Sales 738 units $70 per unit Totals 1,830 units 1,445 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. $ 1,830 Cos goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory. Ending Inventory 385 units Goods Purchased Perpetual LIFO Cost of Goods Sold # of units sold unit Date Cost per # of units Cost per cost of Goods Sold Inventory Balance # of units Cost per Inventory unit Balance 660 at $ 60,00 $ 39,600.00 unit January 1 February 10 Total February 10 March 13 Total March 13 March 15 Total March 15 August 21 Total August 21 September 5 Prev 1 of 2 Next > March 15 Total March 15 August 21 Total August 21 September 5 Total September 5 September 10 1 non
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