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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 Rotana Jan. 1 Beginning inventory 620 units @ $45 per unit Feb. 10 Purchase 380 units $42 per unit Mar. 13 Purchase 100 units $30 per unit Mar. 15 Sales 735 units $70 per unit Aug. 21 Purchase 170 units. $50 per unit Sept. 5 Purchase 400 units $46 per unit Bept. 10 Salon 570 units 570 per unit Totals 1,670 units 1,205 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 $ 25,550 365 units 3. Compute the cost assigned to ending inventory using (a) FIFO. () LIFO. (a) weighted average, and (specific identification. For specific identification, units sold consist or 620 units from beginning inventory, 280 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 185 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) 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
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