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 Units sold at Retail Units Acquired at cost 680 units@ $40 per unit 320 units @ $37 per unit 170 units @ $25 per unit Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 800 units @ $85 per unit 110 units @ $45 per unit 470 units @ $42 per unit 589 units @ $85 per unit 1,388 units 1,758 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 units 2. Compute the number of units in ending Inventory. Ending inventory units 3. Compute the cost assigned to ending Inventory using (a) FIFO, (0) LIFO. () weighted average, and (c) specific identification. For specific Identification, units sold consist of 680 units from beginning Inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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. 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO, () weighted average, and a specific identification. For specific Identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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 FIFO Perpetual LIFO 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 # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods Sold unit sold Date Inventory Balance Cost per Inventory # of units unit Balance 680 $ 40.00 = $ 27,200.00 Jan 1 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals S 0.00 $ 0.00 Perpetual FIFO Perpetual LIFO > 3. Compute the cost assigned to ending Inventory using (a) FIFO, () LIFO. (O) weighted average, and a specific identification. For specific Identification, units sold consist of 680 units from beginning Inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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 FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased Inventory Balance Cost of Goods Sold Cost per Cost per Cost per Date # of units # of units sold # of units Inventory Balance unit Cost of Goods Sold unit unit Jan 1 880 @ $ 40.00 = S 27,200.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 0 Totals S 0.00 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO, () weighted average, and a specific identification. For specific Identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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. Average Perpetual FIFO Perpetual LIFO Weighted Specific 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 # of Date units unit Jan 1 Cost per Cost of Goods Sold # of units sold Cost of Goods Sold unit Cost per Inventory Balance # of units Cost per inventory unit Balance 680 @ $ 40.00 = $ 27,200.00 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals S 0.00 3. Compute the cost assigned to ending Inventory using (a) FIFO, (D) LIFO, () weighted average, and (a) specific Identification. For specific Identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 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 FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 680 units from beginning inventory, 220 from the February 10 purchase, 170 from the March 13 purchase, 60 from the August 21 purchase, and 250 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification: Goods Purchased Cost of Goods Sold Date # of units Cost per unit # of units sold Cost per cost of Goods Sold Inventory Balance Cost per Inventory # of units unit Balance 880 @ $ 40.00 = S 27,200.00 unit January 1 February 10 March 13 March 15 Aug 21 Sep 5 Sep 10 Totals 3 0.00