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specific identification ^

computer the cost assigned to ending inventory using specific identification. for specific identification, units sold consist of 600 units from begging inventory, 300 from the February 10 purchase, 200 from march 13 purchase, 50 from the August 21 purchase, ans 250 from the September 5 purchase.

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date Units Sold at Retail Units Acquired at cost 600 units @ $45 per unit 400 units @ $42 per unit 200 units @ $ey per unit Mar Bee units $75 per unit Activities Jan. Beginning inventory Feb 18 Purchase 13 Purchase Mar. 15 Sales Aug 21 purchase Septs Purchase Sept. 18Sales Totals 100 units asse per unit bes units ( 546 per unit been pen unit 1. de Lins 188 units Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased Date # of Cost units per unit # of units Cost of Goods Sold Cost Cost of Goods Sold per unit sold Inventory Balance Cost Inventory # of units per unit Balance 600 @ $ 45.00 = S 27 000.00 Jan 1 Feb 10 400 @ $ 42.00 600 @ 400 @ 1000 @ S 45.00 = $ 42.00/= $ 43.80 = $ 27.000.00 16.800.00 5 43 800.00 Average Mar 13 200 @ $ 27.00 200 @ 200 S 43.80 S 27.00 = 5 41.00 5.400.00 S 5.400.00 Mar 15 800 @18 41.00 = $ 22.900.00 @ Aug 21 100 @550.00 Average 0 Sept 5 500 @ S 40.00 @ $ 48.00 bola s 44 45 Sept 10 Totals $26.04000 50 440 00 Goods Purchased Cost of Goods Sold Inventory Balance Date # of units Cost per unit # of units sold Cost per unit Cost of Goods Sold # of units Cost per unit $ 45,00 = Inventory Balance $ 27.000.00 January 1 600 @ February 10 March 13 March 15 ces Aug 21 Sep 5 Sep 10 Totals 4. Compute gross profit earned by the company for each of the four costing methods. (Round your aver places.) FIFO LIFO Weighted Average Specific Identification Sales Less. Cost of goods sold Gross profit os 0 9 0 S 0 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year ourchases and Units Sold at Retail Units Acquired at cost be8 units 945 per unit 400 units $42 per unit 2008 units 527 per unit Date Activities dan. 1 beginning inventory Feb 10 Punchase Mar 13 Purchase Man 15 Sales AUB 21 Purchase Sept. 5 Purchase Sept 1 Sales Totals 800 units @ $75 per unit 100 units 55e per unit bol units esde per toit. 6ee units i $75 per unit 1.4ee units 1,800 units Weighted Average Perpetual Goods Purchased # of Date Cost units per unit Jan 1 Cost of Goods Sold Cost Cost of Goods Sold # of units sold Inventory Balance Cost Inventory # of units Balance 800 @ $ 45.00 $ 27 000.00 per unit per unit Feb 10 400 @ $ 42.00 800 CU $ 45.00 = $ 42.00 400 @ 1000 @ $ 27.000.00 13.800.00 $ 43.800.00 $ 43.80 = Average Mar 13 200 $ 27.00 $ 43.80 $ 27.00 = 200 @ 5.400.00 s 5.400.00 200 e S 41.00 300 @ S 41.00 Mar 15 S32 800.00 ca Aug 21 100@ S 50.00 Average Sept 5 500 @ $ 45.00 @ S-a 0 600 6 $4448 @ Sep 10 Totals s 254000 5944000 Specific Identification: Goods Purchased Cost of Goods Sold Cost Date # of units Cost per unit # of units sold Cost of Goods Sold Inventory Balance Cost Inventory # of units Balance 600 @ $ 45.00 $ 27.000.00 per unit per unit January 1 February 10 March 13 March 15 Aug 21 Sep 5 Sep 10