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 Activities 1 Beginning inventory Units Acquired at Cost 630 units $50 per unit 370 units $46 per unit 100 units 8 $34 per unit Units Sold at Retail Date Jan. Feb. 10 Purchase Mar, 13 Purchase Mar 15 Sales Aug. 21 Purchase 740 units e $75 per unit 160 units $55 per unit 520 unitse $51 per unit Sept. 5 Purchase Sept. 10 Sales 680 units $75 per unit 1,780 units 1,420 units Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale units Number of units available for sale 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. (Round your average cost per unit to 2 decimal places.) Complete this question by entering your answers in the tabs below. Perpetual Perpetual FIFO Weighted Average Specific Id LIFO 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 # of units Cost # of units sold Cost per unit Cost of Goods Sold Cost Inventory Balance Date #of units per unit $50.00 per unit 630 Jan 1 $31,500.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 $ Totals 0.00 0.00 Perpetual LIFO Perpetual FIFO 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.) Specific Identification Weighted Average FIFO LIFO Sales Less: Cost of goods sold Gross profit