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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
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. 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 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.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Compute the cost assigned to ending inventory using LFO. (Round your average cost per unit to 2 decimal places.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using specific identification. (For specific identification, units sold consist of 630 units from beginr from the February 10 purchase, 100 from the March 13 purchase, 110 from the August 21 purchase, and 310 from the September 5 purchase.)
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