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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
January 1 Beginning inventory 540 units @ $55 per unit
February 10 Purchase 460 units @ $53 per unit
March 13 Purchase 100 units @ $40 per unit
March 15 Sales 745 units @ $80 per unit
August 21 Purchase 170 units @ $61 per unit
September 5 Purchase 430 units @ $54 per unit
September 10 Sales 600 units @ $80 per unit
Totals 1,700 units 1,345 units

Required:

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 540 units from beginning inventory, 360 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 225 from the September 5 purchase.)

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