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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
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 | |||||||||
Jan. | 1 | Beginning inventory | 660 | units | @ $55 per unit | |||||||
Feb. | 10 | Purchase | 330 | units | @ $52 per unit | |||||||
Mar. | 13 | Purchase | 110 | units | @ $40 per unit | |||||||
Mar. | 15 | Sales | 780 | units | @ $75 per unit | |||||||
Aug. | 21 | Purchase | 140 | units | @ $60 per unit | |||||||
Sept. | 5 | Purchase | 420 | units | @ $56 per unit | |||||||
Sept. | 10 | Sales | 560 | units | @ $75 per unit | |||||||
Totals | 1,660 | units | 1,340 | units | ||||||||
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Required:
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.)
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