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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and : transactions. requirea: 1. Compute cost of goods available for
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and : transactions. requirea: 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. 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.) 5. The company's manager earns a bonu, based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? Weighted Average FIFO LIFO Specific Identification Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (c) speciflc dentification. (For specific identification, units sold consist of 660 units from beginning inventory, 230 from the February 10 urchase, 110 from the March 13 purchase, 110 from the August 21 purchase, and 335 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 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 con from the February 10 purchase, 110 from the March 13 purchase, 110 from the August 21 purchase, and 335 from
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