Montoure Company uses a perpetual Inventory system. It entered into the following calendar year purchases and sales transactions. Units Sold at Retail Units Acquired at Cost 600 units $45 per unit 400 units $42 per unit 200 units $27 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 800 units $75 per unit 100 units $50 per unit 500 units @ $46 per unit 600 units @ $75 per unit 1.400 units 1,800 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 $ 77,200 1,800 units 2. Compute the number of units in ending inventory. Ending inventory 400 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO. (C) weighted average, and (d) specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase. X Answer is complete but not entirely correct. 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 Date # of units # of units Cost per unit Cost of Goods Sold Cost per Cost of Goods unit Sold sold Jan 1 Inventory Balance Cost # of units Inventory per unit Balance @ 600 @ 27,000.00 400 @ 16,800.00 600 45.00 = 27,000.00 Feb 10 4000 @ 22.00 43.800.00 Mar 13 2000 @ 27.00 @ 45.00 600 400 @ 27.000.00 16,800.00 200 @ 27.00 5,400.00 49,200.00 Mar 15 600 @ 45,00 $ 8,400.00 27,000.00 8,400.00 200 200 @ @ 200 @ 42.00 5,400.00 35,400.00 13,800.00 Aug 21 100 @ $0.00 | 200 200 $ 8,400.00 @ @ 42.00 5,400.00 TO 50.00 5,000.00 18.800.00 Sept 5 500 @ 46.000 42.00 $ 8,400.00 5,400.00 2000 @ 100 @ 500 @ 5,000.00 50.00 $ 23,000.00 41,800.00 41 UUU.UU Sept 10 200 42.00 $ 8,400.00 200 27.00 5,400.00 $ 5,000.00 50.00 100 100 46.00 4,600.00 400 @ 46.00 18,400.00 23,400.00 18,400.00 Totals 58,800.00 18,400.00 Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost Cost # of units I Date Cost per Cost of Goods Sold # of units per unit per units Inventory Balance sold its unit unit Jan 1 600 @ S 45.00 27,000.00 Feb 10 4000 @ 42.000] 6000 @ 85.00 = 45.00 27,000.00 16,800.00 $ 400 @ 42.00 43.800.00 Mar 13 2000@ S2 600 @ 400 @ 2000 @ 45.00 22.00 2.00 27,000.00 16,800.00 5,400.00 49,200.00 Mar 15 = @ 45.00 400 O = 200 @ 400 @ 2000 @ 27.00 22.00 45.00 $ 5,400.00 16,800.00 18,000.00 9,000.00 31,200.00 18,000.00 Aug 21 100 @ 60.00 400 100 = @ @ 45.00 60.00 18,000.00 5,000.00 23,000.00 Sept 5 5000 @ 46.00] 400 45.00 18,000.00 5,000.00 100 500 @ @ 50.00 46.00 23,000.00 46,000.00 Sept 10 500 @ 46.00 @ 4500 18,000.00 23,000.00 5,000.00 400 0 100 50.00 28,000 Totals 59,200.00 18,000.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Cost # of Date per units # of units * sold Cost of Goods Sold Cost Cost of Goods per Sold Inventory Balance Cost # of units Inventory per Balance unit 600 @ 25.00 = 27,000.00 sold unit unit Jan 1 Feb 10 400 @ 42.000 600 400 @ @ 45.00 22.00 $0.00 27,000.00 16,800.00 Average 1000 43,800.00 Mar 13 2006 @ 87.000 $0.00 27.00 2100 41.00 5,400.00 $5,400.00 = - Mar 15 8000 @ 41.00 = $32,800.00 16.400.00 Aug 21 100 50.00 41.00 1000 200 @ 1200 @ 4000 @ 400 @ 100 @ 500 @ 5000 @ 500 @ 1000 @ 400 @ 16,400.00 5,000.00 Average 21.400.00 Sept 5 500 @ 26.00 23.00 43.00 600 44.40 = - = = - 21,500.00 23,000.00 44,500.00 600 @ = Sept 10 Totals $ 26,640.00 $59,440.00 17,760.00 Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Cost # of # of units Date Cost of Goods per units Cost per unit sold Sold # of units Cost per unit Inventory Balance unit January 1 600 @ 45.00 = 27,000.00 February 10 400 @ 42.00 45.00 600 400 @ @ 27,000.00 16,800.00 42.00 43.800.00 March 13 2000 @ 27.00 27,000.00 600 400 200 @ @ @ 4200 16,800.00 $ 5,400.00 49,200.00 March 15 = $ 8,400.00 42.00 600 @ 2000 @ 45 42 = = 27,000 8,400 2000 @ 2000@ 22.00 27.00 || 5,400.00 35,400.00 13,800.00 Aug 21 100 @ 60.00 200 @ 42.00 @ @ 200 $ 8,400.00 5,400.00 5,000.00 @ 50.00 18,800.00 Sep 5 500 @ 46.00 42.00 = $ 8,400.00 27.00 5,400.00 200 200 100 500 @ @ @ @ @ 5,000.00 50.00 46.00 23,000.00 41,800.00 Sep 10 $ 4,200.00 42.00 27.00 100 200 50 250 $ 4,200.00 5,400.00 2,500.00 100 50 250 @ @ @ @ @ @ 60.00 - 2,500.00 50.00 46.00 11,500.00 46.00 11,500.00 23,600.00 18.200.00 Totals 59,000.00 18,200.00