Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. 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, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold consist of 700 units from beginning inventory, 200 from the February 10 purchase, 100 from the March 13 purchase, 60 from the August 21 purchase, and 400 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.)

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Acquired at Cost Date Activities Units Sold at Retail 700 unitse $50 per 300 units $46 per 100 unitse $40 per 1 Beginning inventory unit Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept.10 Sales e $70 per 780 units unit 110 unitse $55 570 units $52 unit unit 680 units $70 per 1,460 units un Totals 1,780 units 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, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold consist of 700 units from beginning inventory, 200 from the February 10 purchase, 100 from the March 13 purchase, 60 from the August 21 purchase, and 400 from the September 95 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.) Complete this question by entering your answers in the tabs below Required Required Required Required Compute cost of goods available for sale and the number of units available for sale 4 Cost of goods available for sale Number of units available for sale units Required 1 Required 2 >