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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 Units Acquired at Cost

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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 Units Acquired at Cost 620 units $45 per unit 310 units $42 per unit 120 units $30 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 778 units@ $85 per unit 190 units 520 units $50 per unit $48 per unit 710 units@ $85 per unit 1.480 units 1,760 unit Required: 1. Compute cost of goods available for sale and the number of units available for sale 2. Compute the number of units in ending inventory 3. Compute the cost assigned to ending Inventory using (a) FIFO, () LIFO, (weighted average, and specific identification. For specific identification, units sold consist of 620 units from beginning inventory. 210 from the February 10 purchase, 120 from the March 13 purchase, 140 from the August 21 purchase, and 390 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) 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.) Required 1 Required 2 Required 3 Required 4 Compute cost of goods available for sale and the number of units available fo Cost of goods available for sale Number of units available for sale $ 65,540 1,480 units Required 1 Required 2 Required 1 Required 2 Required 3 Required 4 Compute the number of units in ending inventory. Ending inventory 1,480 units Required 1 Required 2 Required 3 Required 4 Compute gross profit earned by the company for each of the four costing methods. (Round your average cost pe decimal places.) FIFO LIFO $ $ Sales Less Cost of goods sold Gross profit 125,800 65,540 60,260 125,800 66,380 59,420 Weighted Average $ 125,800 65,876 $ 59,924 Specific Identification $ 125,800 6 6,040 S 59,760 $ $ Required 3 Required 4

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