Montoure Company uses a perpetual inventory system. It entered into the following calendar-year pur ch ases and sales transactions. (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.) Date Units Sold at Retail Activities Units Acquired at Cost 600 units @ $45.00 per unit Jan. 1 Beginning inventory . . 400 units @ $42.00 per unit . . . Feb. 10 Purchase 200 units @ $27.00 per unit 800 units @ $75.00 per unit Mar. 15 Sales . . . 100 units@ $50.00 per unit Aug. 21 Purchase 500 units @ $46.00 per unit 600 units @ $75.00 per unit 1,400 units 1,800 units Inventories and Cost of Sales 249 Chapter 6 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, () weighted average, and (d) specific identification. (Round all amounts to cents.) 3) Ending inventory Check FFO S18 400, LIFO $18.000 WA $17.760 4 LIFO gross profit. $45.800 4. Compute gross profit earned by the company for each of the four costing methods in part 3 Analysis Component 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager