Question
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 | 620 | units | @ $45 per unit | |||||||
Feb. | 10 | Purchase | 380 | units | @ $42 per unit | |||||||
Mar. | 13 | Purchase | 100 | units | @ $30 per unit | |||||||
Mar. | 15 | Sales | 735 | units | @ $70 per unit | |||||||
Aug. | 21 | Purchase | 170 | units | @ $50 per unit | |||||||
Sept. | 5 | Purchase | 400 | units | @ $46 per unit | |||||||
Sept. | 10 | Sales | 570 | units | @ $70 per unit | |||||||
Totals | 1,670 | units | 1,305 | units | ||||||||
Required: 1. Compute cost of goods available for sale and the number of units available for sale.
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