Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Unite Aequired at Cost 680 units 540 per unit 320 units @ $35 per unit 100 units $23 per unit Date Activities Jan. Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 720 unitse $75 per unit 130 units 490 units $45 per unit $41 per unit 620 units 1, 140 units 375 per unit 1,720 units References 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 units 2. Compute the number of units in ending inventory Erding Inventory units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (weighted average, and (d) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 240 from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual UFO Weighted Average Specific ld Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Goods Purchased # of Cost per units Cost of Goods Sold of units Cost per te sold unit Cost of Goods Sold Date unit Inventory Balance of units Cost per Inventory unit Balance 680 @ $ 40.00 = $ 27,200.00 Jan 1 Feb 10 Mar 15 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (weighted average, and (d) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 240 from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. 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 LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost per #of units Cost per cost of Goods Sold Cost per Inventory Date of units cost per units unit sold unit cost of co Balance Jan 1 680 @ $40.00 - $ 27,200.00 unit Feb 10 Mar 13 3. Compute the cost assigned to ending inventory using (a) FIFO, (6) LIFO. (weighted average, and (c) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 240 from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual UFO! 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 of Cost per Date units unit Jan 1 Cost of Goods Sold of units Cost per Cost of Goods Sold sold unit Inventory Balance Cost per inventory of units unit Balance 680 @ $40.00 - $ 27.200.00 Feb 10 Average Mar 13 15 3. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO. (weighted average, and (d) specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 240 from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. 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 specific identification. For specific identification, units sold consist of 680 units from beginni from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. (R cost per unit to 2 decimal places.) Specific Identification: Goods Purchased # of Cost per Date units unit Cost of Goods Sold Inventory Balance of units Cost per Cast of Goods Baldo unis Cost per Cost per Inventory sold unit unit Balance 680 @ $40.00 - $ 27.200.00 January 1 February 10 March 13 March 15 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.) ins FIFO LIFO Weighted Average Specific identification BO Sales Less: Cost of goods sold Grosso Detences 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? LIFO FIFO LIFO Specific identification