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Montoure Company uses a perpetual Inventory system. It entered into the tollowing calendar-year purchases and sales unita Aequired at units sold at Retail Date Activities
Montoure Company uses a perpetual Inventory system. It entered into the tollowing calendar-year purchases and sales unita Aequired at units sold at Retail Date Activities Jan Beginning inventory $35 per 600 unitsunit $32 per 300 units unit Feb. 10 Purchase @20 per 150 units unit $80 per 725 unitsunit Mar. 15 Sales e $40 per Aug. 21 Purchase 190 units unit 540 units unit Sept. 5 Purchase unit er $80 per 730 units Sept.10 sales 1,780 units 1,455 units Totals 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 specific dentitication. For specific identification, units sold consist of 600 units from beginning inventory, 200 from the February 10 purchase, 150 from the March 13 purchase, 140 from the August 21 purchase, and 365 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.) Complete this question by entering your answers in the tabs below Required Required Required 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 600 units from beginning inventory, 200 from the February 10 purchase, 150 from the March 13 purchase, 140 from the August 21 purchase, and 365 from the September 5 purchase Round your average cost per unit to 2 decimal places.) Show lessA a) FIFO LIFO c)lWe Specific identfication Required4>
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