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	680	units	@ $40 per unit
February 10	Purchase	320	units	@ $37 per unit
March 13	Purchase	170	units	@ $25 per unit
March 15	Sales				800	units	@ $85 per unit
August 21	Purchase	110	units	@ $45 per unit
September 5	Purchase	470	units	@ $42 per unit
September 10	Sales				580	units	@ $85 per unit
	Totals	1,750	units		1,380	units

1. 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 685 units from beginning inventory, 385 from the February 10 purchase, 285 from the March 13 purchase, 135 from the August 21 purchase, and 420 from the September 5 purchase. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.
2. Compute gross profit earned by the company for each of the four costing methods. ( FIFO,LIFO, Weighted Average, Specific identification) Show the number of Sales, Less: Cost of goods sold, gross profit. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.

Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using FIFO