Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales transactions.

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 630 units from beginning inventory, 270 from the February 10 purchase, 100 from the March 13 purchase, 110 from the August 21 purchase, and 310 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.)

Date Units Sold at Retail Jan. 1 Feb. 10 Mar. 13 Mar. 15 Aug. 21 Sept. 5 Sept. 10 Units Acquired at Activities Cost Beginning inventory 630 units @ $50/unit Purchase 370 units @ $46/unit Purchase 100 units @ $34/unit Sales Purchase 160 units @ $55/unit Purchase 520 units @ $ 51/unit Sales 740 units @ $75/unit 680 units @ $75/unit Totals 1,780 units 1,420 units