Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost 630 units @ $50 per unit Units Sold at Retail 370 units @ $46 per unit 100 units @ $34 per unit Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales 740 units @ $75 per unit 160 units @ $55 per unit 520 units @ $51 per unit 680 units @ $75 per unit 1,420 units Totals 1,780 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale 2. Compute the number of units in ending inventory. units 2. Compute the number of units in ending inventory. Ending inventory units 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. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Inventory Balance Goods Purchased Cost of Goods Sold Cost per Cost per Cost of Goods Sold # of Inventory Balance #of units # of units sold Date unit Unit $50.00 units 630 Jan 1 Feb 10 Cost per unit 5 # E Next 31.500.00 Help Save & Exit Check m 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.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit O $ 0 $ O 0 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? O Specific Identification O FIFO O LIFO O Weighted Average