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please help. Montoure Company uses a periodic inventory system. It entered into the following calendor-year purchases and saies transactions. Required: 1. Compute cost of goods
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Montoure Company uses a periodic inventory system. It entered into the following calendor-year purchases and saies transactions. Required: 1. Compute cost of goods available for sale and the number of units available for sale. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (c) specific identification. For specific identification, units sold consist of 685 units from beginning inventory, 385 from the February 10 purchase, 285 from the March 13 purchase, 135 from the August 21 purchase, and 420 from the September 5 purchase. Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount. 4. Compute gross profit earned by the company for each of the four costing methods, Note: Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount Step by Step Solution
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