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 Units Acquired at Cost 680 units @ $40 per unit 320 units@ $35 per unit 10e units@ $23 per unit Date Units Sold at Retai1 1 Beginning inventory Jan. Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales 720 units@ $75 per unit Aug. 21 Purchase Sept. Sept. 10 Sales 130 units@ $45 per unit 490 units@ $41 per unit 5 Purchase 62e units@ $75 per unit 1,720 units 1,340 units Totals Required: 1. Compute cost of goods available for sale and the number of units available for sale $ 66,640 Cost of goods available for sale 1,720 units Number of units available for sale 2. Compute the number of units in ending inventory 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 680 units from beginning inventory, 220 from the February 10 purchase, 100 from the March 13 purchase, 80 from the August 21 purchase, and 260 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) k Ending Inventory FIFO (a) LIFO (b) nt (c) Weighted average (d) Specific identification ences 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.) Weighted Average Specific Identification FIFO LIFO Sales Less Cost of goods sold Gross profit $ $