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 Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 700 units $50 per unit 350 units$44 per unit 150 unitse $32 per unit 190 units $55 per unit 540 units $51 per unit 705 units seo per unit 1,930 unita 730 unitse $80 per unit 1.435 unita 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. () LIFO. ( weighted average, and (c) specific identification. For specific identification, units sold consist of 700 units from beginning inventory, 250 from the February 10 purchase, 150 from the March 13 purchase, 140 from the August 21 purchase, and 195 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 1 Required 2 Required 3 Required 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 Required 2 > 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, units sold consist of 700 units from beginning inventory, 250 from the February 10 13 purchase, 140 from the August 21 purchase, and 195 from the September 5 purchase. (Round your av decimal places.) 4. Compute gross profit earned by the company for each of the four costing methods. (Round your aver places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the number of units in ending inventory. Ending inventory units Ac raw Saved Homework Help $80 per unit Sept. 10 Sales Totals 730 unito 1,435 units 1,930 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, (weighted average, and (c) specific identification. For specific identification, units sold consist of 700 units from beginning inventory, 250 from the February 10 purchase, 150 from the March 13 purchase. 140 from the August 21 purchase, and 195 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 1 Required 2 Required 3 Required 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 LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0$ 0
