problem 5-3A perpetual: alterbative cost flows Lo P1

Problem 5-3A Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at cont Units sold at Retail Jan. Beginning inventory 600 unito e $60 per unit Feb. 10 Purchase 400 unitse $57 per unit Mar. 13 Purchase 150 units $45 per unit Mar. 15 Sales 750 unito e sis per unit Aug. 21 Purchase 150 unitse $65 per unit Sept. 5 Purchase 450 unitse $61 per unit Sept. 10 Sales 600 unitse $85 per unit Totals 1.750 units 1,350 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 avallable for sale $102,750 400 units 2. Compute the number of units in ending Inventory Ending inventory 400 units Perpetual FIFO Perpetual UFO 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: Goods Purchased Cost of Goods Sold Inventory Balance # of Date Cost per # of units Cost per Cost per # of units units Inventory Cost of Goods Sold unit sold unit unit Balance Jan 1 600 @ $ 60,00 - $ 35,000.00 Feb 10 400 @ $ 60.00 $ 36,000.00 $ 36,000.00 Mar 13 200 @ $ 60.00 Mar 15 @ $ 60,00 $ 0.00 @ Aug 21 150 @ Sept 5 450 @ Sept 10 Totals $ 0.00 $ 0.00 velighted Perpetual FIFO Perpetual LIFO Specific id Average Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Welghted Average Perpetual Goods Purchased Cost of Goods Sold Inventory Balance Date of Cost per # of units Cost per Cost per Inventory # of units units unit sold Cost of Goods Sold unit unit Balance Jan 1 600 $ 60,00 - $ 36,000.00 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals $ 0.00 Perpetual FIFO Perpetual LIFO Weighted Average tocific to Compute the cost assigned to ending Inventory using specific Identification. For specific identification, units sold consist of 600 units from beginning inventory, 330 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost per Goods of units #of units Cost per Cost of # of units Cost per Goods unit Ending Available sold unit In ending unit Sold for Sale Inventory Inventory Beginning inventory 600 $ 60.00 $ 27,000 0 $ 60.00 $ 0 Purchases: Feb 10 400 $ 57.00 16,800 330 $ 57,00 18,810 70 $ 57.00 3,990 March 13 150 $ 45.00 5,400 0 $ 45,00 0 Aug 21 150 $ 65.00 5.000 0 $ 65.00 0 Sep 5 450 $ 61.00 23,000 $ 61.00 0 Total 1.750 $ 77,200 330 $ 18,810 70 $ 3,990 0