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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.

DateActivitiesUnits Acquired at CostUnits Sold at Retail
Jan.1Beginning inventory600units@ $45 per unit
Feb.10Purchase400units@ $42 per unit
Mar.13Purchase200units@ $27 per unit
Mar.15Sales800units@ $75 per unit
Aug.21Purchase100units@ $50 per unit
Sept.5Purchase500units@ $46 per unit
Sept.10Sales600units@ $75 per unit
Totals1,800units1,400units


Required:
1. Compute cost of goods available for sale and the number of units available for sale.

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2. Compute the number of units in ending inventory.
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.)
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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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