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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units sold at Retail Date January 1 February
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units sold at Retail Date January 1 February 10 March 13 March 15 August 21 September 5 September 10 Activities Beginning inventory Purchase Purchase Sales Purchase Purchase Sales Units Acquired at Cost 660 units @ $60 per unit 330 units @ $57 per unit 110 units @ $45 per unit 160 units @ $65 per unit 570 units @ $61 per unit 715 units @ $70 per unit 730 units @ $70 per unit 1,445 units Totals 1,830 units 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO. (9 weighted average, and (d) specific Identification. (For specific identification, units sold consist of 660 units from beginning Inventory 230 from the February 10 purchase, 110 from the March 13 purchase, 110 from the August 21 purchase, and 335 from the September 5 purchase.) ok 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.) Date Goods Purchased # of units Cost per unit # of units sold Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost Cost of Goods Sold #of units Cost Inventory per unit per unit Balance 880 at $ $60.00 = $ 39,600.00 January 1 February 10 Total February 10 March 13 Total March 13 March 15 Total March 15 August 21 Total August 21 September 5 Total September 5 September 10 Total September 10 Totals S 0.001 $ 0.00
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