Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Units Sold at Retail 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 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 1,830 units 730 units @ $70 per unit 1,445 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 units 2. Compute the number of units in ending inventory. Ending inventory units 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 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. 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: Cost of Goods Sold Goods Purchased # of Cost per units unit Date # of units sold Cost per Cost of Goods Sold Inventory_Balance Cost per Inventory # of units unit Balance 660 @ $ 60.00 $ 39,600.00 unit Jan 1 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals $ 0.00 $ 0.00 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 # of units Date Cost of Goods Sold # of units Cost per cost of Goods Sold sold Cost per unit Inventory Balance Cost per Inventory # of units unit Balance 660 @ $ 60.00 = $ 39,600.00 unit Jan 1 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals $ 0.00 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 # of Cost per Date Cost of Goods Sold Cost per unit Cost of Goods Sold # of units sold units Inventory Balance Cost per Inventory # of units unit Balance 660 @ $ 60.00 = $ 39,600.00 unit Jan 1 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units # of units Cost of Cost per Goods unit Available for Sale $ 60.00 $ 27.000 sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 660 0 $ 60.00 $ 0 230 $ 57.00 13,110 5,700 Beginning inventory Purchases: Feb 10 March 13 Aug 21 Sep 5 Total 0 0 330 $ 57,00 110 $ 45.00 160 $ 65.00 570 $ 61.00 1,830 16,800 5,400 5,000 23.000 0 100 $ 57.00 $ 45.00 $ 65.00 $ 61.00 100 0 0 0 $ 77,200 230 $ 13,110 $ 5,700
