Problem 5-3A Perpetual: Alternative cost flows LO P1 02:06:07 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales trans Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 620 units@ $45 per unit Feb. 10 Purchase 310 units @ $42 per unit Mar. 13 Purchase 120 units @ $30 per unit Mar. 15 Sales 770 units @ $85 per unit Aug. 21 Purchase 190 units @ $50 per unit Sept. 5 Purchase 520 units @ $48 per unit Sept. 10 Sales 710 units @ $85 per unit Totals 1,760 units 1,480 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 $ 78,980 1,760 units Perpetual FIFO Perpetual UFO Weighted Average Secific Id 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 Cost of Goods Sold Inventory Balance # of Dato # of units Cost per cost of Goods Sold Cost per units Inventory # of units unit sold unit unit Balance Jan 1 620 @ $4500 - $ 27,900 00 2:05:36 Cost per Feb 10 310 $42.001 620 310 930 $45.00 - $42.00 54400- $ 27,900.00 13.020.00 $ 40,320.00 Average Mar 13 1201 $30.00 770 5424 5420 $32.640.00 Mar 15 Aug 21 190 $50.00 9.30 a $44.00 $40.920.00 120 $ 30.00 - 3.000.00 1,050 $4240 - 54.520.00 280 34240 - $11.672.00 200 54240 $ 11,872.00 190 $50.00 9.500.00 470 G $4547 $21.372.00 470) $45.47 - 521.370.00 520 a 5 48.00 24.900.00 900 $48.80 546 330.00 Average Sept5 520 $48.00 CH wompreveu My HY YUI DW HE Laus veuw. Perpetual FIFO Perpetual LIFO Weighted Average Specific Compute the cost assigned to ending inventory using specific identification. For specific Identification, units sold consist of 620 units from beginning Inventory, 210 from the February 10 purchase, 120 from the March 13 purchase, 140 from the August 21 purchase, and 390 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) 05:45 Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per sold unit Cost of Goods Sold Cost of Cost per Goods # of units unit Available for Sale 620 $ 45,00 $ 27,000 #of units In ending inventory Cost per unit Ending Inventory 0 $ 45.00 $ 0 210 $ 42.00 8,820 0 4.200 0 Beginning inventory Purchases. Feb 10 March 13 Aug 21 Sep 5 Total 0 0 310 $ 42.00 120 $ 30.00 190 $ 50.00 520 $ 48.00 1,760 16,800 5.400 5,000 23.000 $ 77,200 100 $ 4200 $ 30.00 $ 50.00 $ 48.00 100 0 0 $ 4,200 210 $ 8.820 Help Safari File Edit View History Bookmarks Develop Windows 2 omhedocation.com MOTO Connect G C To Me Chorwich Piece Chs Quiz Set Save & Exit Help Check my 1 1 120 53000 620) $45.00 310 52.00 120 a 5000 10 N15 620 150 e 2 54500 54200 - solo 1201 $22.00000 530000 $ 1.200.00 200- 52000 $ 27.800.00 1307000 300.00 54457000 S720.00 3.600.00 $10.00 17200 360000 800.00 10 000 10 120 10 50 3300 35000 COS SS son 130 140 120 5000 500 - SER * 0.720.00 3.000.00 2.500.00 DO SUNOD los Set 10 O 100 g 100 100- 1900 500 - 240 1400 3K720.00 1.800.00 9.500.00 50 50 200 100 - 3:4300 S. 5.04000 T 55 O2 1 1 places.) FIFO LIFO Weighted Average Specific Identification 10 points Sales Less: Cost of goods sold Gross profit $ 0 $ os 0 $ 0 8 02:04:24 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? FIFO Weighted Average LIFO Specific identification