Problem 5 3A Perpetual Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system It entered into the following calendar year 2013 purchases and sales transactions Date Activities Units Acquired at Cost Units Sold at Retail Jan 1 Beginning inventory 600 units $ 60 unit Feb 10 Purchase 400 units $ 57 unit Mar 13 Purchase 150 units $ 45 unit Mar 15 Sales 750 units $ 85 unit Aug 21 Purchase 150 units $ 65 unit Sept 5 Purchase 450 units $ 61 unit Sept 10 Sales 600 units $ 85 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 e ru td rewenssA i , n ioptriscdeb ta, 62 , 0 67 l,ul n1 5, llnu 26 , 2 3, seal f2 4, 1 50 1, 4 2, 1 31 0, 5, 04 e,lsfa 48 , 7 3, 81 37 7, 98 34 23 e,ru t5 4, 1 leit 20Tew N mena, uetr 47 2, 54 , 3 3, 00 1 c5, 0 10 4 c ,00 1 c3, 8 5 c2, 2 7 c1, 9 20 0 c 9 1, 20 2 1 ,20 1 1 ,20 0 1 ,20 9 , 0 2 8 ,20 7 , 0 2 6 ,20 5 , 0 2 4 ,20 3 , 0 2 2 ,20 1 , 0 2 0 9 5, 3B px 200t ennd ixtte 3B 205)25, 2055 2025,25b(rg 20orol cndougrckba 8 ,ftLelety 20sermbNulety s 7, 2 rc2l el ce0blta0 8 3, htig r 68 e,lsfa 44 e,lsfa 43 ,5)25, 2055 2025,25b(rg 9 ,ONTIESQU 6 7 55 , 24 81 2, 21 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, s itun 5 7 0, 9 7, s itun 5 7 30 2 0 2 , ) 3B55 2025,25, 2055(2gb 20rr locod unrokgac b 8, e nspoes 20rermbNulety s 7, 2 rc1l el ce0blta0 8 3, htig r 68 e,lsfa 44 e,ru t3 4, ) 55 2025,25, 2055(2gb r 9, N IOUTOL S 76 5 5, 24 1 8, uetr 80 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 9)(1 z 5 7 56 , 79 , 5 7 30 2 0 2 , ) 3B55 2025,25, 2055(2gb 20rr locod unrokgac b 8, 2 rc0l el ce0blta0 8 3, ftle 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 55 2025,25, 2055(2gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,lesar 20foe 20bllaaiavs 20itunf 20 20oermbNu 5 7 30 2 0 2 , ermbNulety s 7, 1 rc2l el ce0blta0 8 3, htig r 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 e,lsfa 44 e,lsfa 43 ,5)25, 2055 2025,25b(rg 9 ,4) 2034, 2034,(3gb r 15 ,ONTIESQU 6 7 55 , 24 81 2, 21 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 75 0 3 2 20 , e nspoes 20rermbNulety s 7, 1 rc1l el ce0blta0 8 3, htig r 68 e,lsfa 44 e,ru t3 4, N IOUTOL S 76 5 5, 24 1 8, uetr 63 5 5, Y NCREUR C 73 9 2, 79 ,) 21z( 75 6 5, 9 7, 75 0 3 2 20 , 1 rc0l el ce0blta0 8 3, ftle 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 55 2025,25, 2055(2gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,lesar 20foe 20bllaaiavs 20odgof 20 20ostCo 5 7 30 2 0 2 , ) 3B 2000,, 20(0gb 20ridol 20spx 201m toot berrdbo 3B 20px 200t ennd ixtte 3B 201)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,erntCelety s 7, 0 rc2l el ce0blta0 8 3, 72 6, 73 ,x 1p 7 7, d liso 4 6, 0 0000 230 5 1 12 , 7 5 11 ,erntce 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 , ) 3B 2000,, 20(0gb 20ridol 20spx 201m toot berrdbo 3B 20px 200t ennd ixtte 3B 201)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,erntCelety s 7, 0 rc1l el ce0blta0 8 3, 72 6, 73 ,x 1p 7 7, d liso 4 6, 0 0000 230 5 1 12 , 7 5 11 ,erntce 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 , ) 3B 2000,, 20(0gb 20ridol 20spx 201m toot berrdbo 3B 20px 200t ennd ixtte 3B 201)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,erntCelety s 7, 0 rc0l el ce0blta0 8 3, 72 6, 73 ,x 1p 7 7, d liso 4 6, 0 0000 230 5 1 12 , 7 5 11 ,erntce 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 13 e,lsfa 41 ,n owpDro d 27 1, 5 2, 75 e,lsfa 82 8 2, 22 e,lsfa 35 e,ru t6 3, 55 ,leab 20TedtltiUn 9 6, 37 1, 38 5 5 6 2 Compute the number of units in ending inventory uetr ederswAnis, ontiipcres dab t , 2 6, 0 7 6, llnu 51 l,ul n6 2, 32 e,lsfa 42 1, 0 5, 1 24 1, 1 3, 05 0, 4, seal f8 4, 37 ,7 36 77 8, 54 3 3 2, uetr 45 ,e1tlTiw 20Ne e am n ,e lsfa 47 1, 54 , 3 3, 67 2 c ,00 1 c1, 8 15 0 c 9 1, 20 3 , 0 2 2 ,20 1 , 0 2 0 9 5, 3B 1)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,r02 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 , 1 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,tsni u 75 0 3 2 20 , 3B 5)25, 2055 2025,25b(rg 20orol cndougrckba 8 ,seonsprer 20beumeNylst 7 ,r01 cllce0 leab t 0 38 ,t ghri 8 6, 11 e,lsfa 44 e,ru t3 4, ) 55 2025,25, 2055(2gb r 9, N IOUTOL S 76 5 5, uetr 63 ,yy, 20ddM 20 M atrmFoteda 55 ,ICERUM N 73 9 2, 79 ,) 22z( 75 6 5, 9 7, 75 0 3 2 20 , 3B 1)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,r00 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 , 1 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,rytoennv 20ingdiEn 5 7 30 2 0 2 13 e,lsfa 41 ,n owpDro d 27 1, 5 2, 75 e,lsfa 82 8 2, 22 e,lsfa 35 e,ru t6 3, 55 ,leab 20TedtltiUn 9 6, 37 1, 18 5 5 6 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 600 units from beginning inventory, 300 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase (Round your average cost per unit to 2 decimal places ) e ru td rewenssA i , n ioptriscdeb ta, 62 , 0 67 l,ul n1 5, llnu 26 , 2 3, seal f2 4, 1 50 1, 4 2, 1 31 0, 5, 04 e,lsfa 48 , 7 3, 81 37 7, 41 14 3 3 2, uetr 45 ,e1tlTiw 20Ne e am n ,e lsfa 47 4, 54 , 3 3, 19 1 c2, 7 17 1 c ,43 0 c 9 1, 20 4 , 0 2 3 ,20 2 , 0 2 1 ,23 0 59 , seonsprer 20beumeNylst 7 ,r42 cllce0 leab t 0 38 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 , 24 81 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 7)(4 z 5 7 56 , 79 , 5 7 30 2 0 2 , r41 cllce0 leab t 0 38 ,seal f4 4, seal f3 4, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,onticafitienidc 20ficipe S 75 0 3 2 20 , 3B px 200t ennd ixtte 8 ,erntCelety s 7, 4 rc0l el ce0blta0 8 3, erntce 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 55 2025,25, 2055(2gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,d) ( 75 0 3 2 20 , e ncraleToueal 20vseonsprer 20beumeNylst 7 ,r32 cllce0 leab t 0 38 ,ueal v 70 1, 71 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 , 24 81 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 9)(5 z 5 7 56 , 79 , 5 7 30 2 0 2 , r31 cllce0 leab t 0 38 ,seal f4 4, seal f3 4, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,gerave 20aedhtigWe 5 7 30 2 0 2 , x 3B0p 20ntdeint ex t 8, r teeneCylst 7 ,r30 cllce0 leab t 0 38 ,r teen c 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 e,lsfa 44 e,lsfa 43 ,5)25, 2055 2025,25b(rg 9 ,4) 2034, 2034,(3gb r 15 ,ONTIESQU 6 7 55 ,e lsfa 1 55 ,NGRIST 3 7 29 , 9 7, ) (c 5 7 30 2 0 2 , seonsprer 20beumeNylst 7 ,r22 cllce0 leab t 0 38 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 , 24 81 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 4)(4 z 5 7 56 , 79 , 5 7 30 2 0 2 , r21 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 e,lsfa 44 e,lsfa 43 ,5)25, 2055 2025,25b(rg 9 ,4) 2034, 2034,(3gb r 15 ,ONTIESQU 6 7 55 ,e lsfa 1 55 ,NGRIST 3 7 29 , 9 7, O IF L 75 0 3 2 20 , 3B px 200t ennd ixtte 8 ,erntCelety s 7, 2 rc0l el ce0blta0 8 3, erntce 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 55 2025,25, 2055(2gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,b) ( 75 0 3 2 20 , e nspoes 20rermbNulety s 7, 1 rc2l el ce0blta0 8 3, htig r 68 e,lsfa 44 e,ru t3 4, N IOUTOL S 76 5 5, 24 1 8, uetr 63 5 5, Y NCREUR C 73 9 2, 79 ,) 35z( 75 6 5, 9 7, 75 0 3 2 20 , 1 rc1l el ce0blta0 8 3, ftle 8 6, 09 3, seal f4 7, seal f9 4, seal f0 1, seal f4 4, seal f3 4, ) 55 2025,25, 2055(2gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,FOFI 5 7 30 2 0 2 , x 3B0p 20ntdeint ex t 8, r teeneCylst 7 ,r10 cllce0 leab t 0 38 ,r teen c 68 0, 39 e,lsfa 74 e,lsfa 49 e,lsfa 10 e,lsfa 44 e,lsfa 43 ,5)25, 2055 2025,25b(rg 9 ,4) 2034, 2034,(3gb r 15 ,ONTIESQU 6 7 55 ,e lsfa 1 55 ,NGRIST 3 7 29 , 9 7, ) (a 5 7 30 2 0 2 , x 3B3p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac 20bx 3B0p 20ntdeint ex t 8, d oleBylstr 20teeneCylst 7 ,r02 cllce0 leab t 0 38 ,r teen c 68 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,rytoennv 20IngdiEn 5 7 30 2 0 2 , x 3B3p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac b 8, d oleBylst 7 ,r01 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 , x 3B3p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac b 8, d oleBylst 7 ,r00 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 13 e,lsfa 41 ,n owpDro d 27 1, 5 2, 75 e,lsfa 82 8 2, 22 e,lsfa 35 e,ru t6 3, 55 ,leab 20TedtltiUn 9 6, 37 1, 58 5 5 6 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 ) uetr ederswAnis, ontiipcres dab t , 2 6, 0 7 6, llnu 51 l,ul n6 2, 32 e,lsfa 42 1, 0 5, 1 24 1, 1 3, 05 0, 4, seal f8 4, 37 ,1 61 77 1,13 34 23 e,ru t5 4, e tlTiw 20Ne e am n ,e lsfa 47 8, 54 , 3 3, 04 1 c4, 1 10 3 c ,91 2 c ,01 1 c1, 2 17 0 c 9 1, 20 4 , 0 2 3 ,20 2 , 0 2 1 ,33 0 59 , ) 3B70 2015,25, 2055(2gb 20rr locod unrokgac 20b) 3B 2000,, 20(0gb 20rleubdox 203p 20omttbor deor b 8, r beumeNylstt 20ghRilety s 7, 3 rc4l el ce0blta0 8 3, ))E32,(ECTRABTSU),E32,(EUM,S 3C0E3F( 3DI 9 7, t ghri 8 6, ) 70 2015,25, 2055(2gb r 9, x 3p 7 7, e blou d 64 ,000000 23 15 2 1, px 1 77 ,idol s 64 ,000000 23 15 2 7 11 e,lsfa 43 ,ONTIESQU 6 7 55 , 24 81 2, 53 e,ru t3 6 55 ,CYENRRCU 3 7 29 , ))E32,(ECTRABTSU),E32,(EUM,S 3C0E3F( 3DI 9 7, 75 0 ,) 3),EE2T(ACTRUB,S3),EE2M(SU0,3 3C(EIF 3D 79 ,2073 3 75 0 3 2 20 , 3B 0)17, 2055 2025,25b(rg 20orol cndougrckba 3B 200), 20 2000,b(rge 20blou 20dpx 203m toot berrdbo 8 ,ermbNulety 20shtigeRylst 7 ,r33 cllce0 leab t 0 38 ,) 3),DD2T(ACTRUB,S3),DD2M(SU0,3 3C(DIF 3D 79 ,htig r 68 ,0)17, 2055 2025,25b(rg 9 , px 3 77 ,leubdo 4 6, 0 0000 230 5 1 12 ,x 1p 7 7, d liso 4 6, 0 0000 230 5 1 72 1 1, seal f3 4, N IOSTUE Q 76 5 5, 24 1 8, 23 5, uetr 63 5 5, Y NCREUR C 73 9 2, ) 3),DD2T(ACTRUB,S3),DD2M(SU0,3 3C(DIF 3D 79 , 5 7 0, ))D32,(DCTRABTSU),D32,(DUM,S 3C0D3F( 3DI 9 7, 8 3637 5 7 30 2 0 2 , ) 3B70 2015,25, 2055(2gb 20rr locod unrokgac 20b) 3B 2000,, 20(0gb 20rleubdox 203p 20omttbor deor b 8, r beumeNylstt 20ghRilety 20sseonspre 7 ,r32 cllce0 leab t 0 38 ,) 3),CC2T(ACTRUB,S3),CC2M(SU0,3 3C(CIF 3D 79 ,htig r 68 ,0)17, 2055 2025,25b(rg 9 , px 3 77 ,leubdo 4 6, 0 0000 230 5 1 12 ,x 1p 7 7, d liso 4 6, 0 0000 230 5 1 72 1 1, seal f3 4, N IOSTUE Q 76 5 5, 24 1 8, 23 5, uetr 63 5 5, Y NCREUR C 73 9 2, ) 3),CC2T(ACTRUB,S3),CC2M(SU0,3 3C(CIF 3D 79 , 5 7 0, ))C32,(CCTRABTSU),C32,(CUM,S 3C0C3F( 3DI 9 7, 0 2637 5 7 30 2 0 2 , ) 3B70 2015,25, 2055(2gb 20rr locod unrokgac 20b) 3B 2000,, 20(0gb 20rleubdox 203p 20omttbor deor b 8, e ncraleToueal 20vermbNulety s 7, 3 rc1l el ce0blta0 8 3, e luva 0 7, 11 7, ))B32,(BCTRABTSU),B32,(BUM,S 3C0B3F( 3DI 9 7, t ghri 8 6, ) 70 2015,25, 2055(2gb r 9, x 3p 7 7, e blou d 64 ,000000 23 15 2 1, px 1 77 ,idol s 64 ,000000 23 15 2 7 11 e,lsfa 44 e,lsfa 43 ,ONTIESQU 6 7 55 , 24 81 2, 53 e,ru t3 6 55 ,CYENRRCU 3 7 29 , ))B32,(BCTRABTSU),B32,(BUM,S 3C0B3F( 3DI 9 7, 75 0 ,) 3),BB2T(ACTRUB,S3),BB2M(SU0,3 3C(BIF 3D 79 ,2076 3 75 0 3 2 20 , 3B px 200t ennd ixtte 8 ,ftLelety s 7, 3 rc0l el ce0blta0 8 3, e lsfa 44 e,lsfa 43 ,ONTIESQU 6 7 55 ,e lsfa 1 55 ,NGRIST 3 7 29 , 9 7, t firo 20pssro G 75 0 3 2 20 , 3B 0), 20 2000,b(rgd 20lisox 201p 20omttbor deor b 8, e nspoes 20rermbNulety 20shtigeRylst 7 ,uetr 43 ,htig r 68 ,ONTILUSO 6 7 55 ,e ru t1 , 24 81 2, 53 e,ru t3 6, uetr 80 5 5, Y NCREUR C 73 9 2, 79 ,) 46z( 75 6 5, 9 7, 75 0 3 2 20 , 3B 0), 20 2000,b(rgd 20lisox 201p 20omttbor deor b 8, e ncraleTogetaenrcpee 20nspoes 20rermbNulety 20shtigeRylst 7 ,getaenrcpe 0 7, 1 01 7, e ru t3 4, t ghri 8 6, N IOUTOL S 76 5 5, uetr 1, 24 1 8, 23 5, uetr 63 e,ru t0 8 55 ,CYENRRCU 3 7 29 , 9 7, 0)(6 z 5 7 56 , 79 , 5 7 30 2 0 2 , ) 3B 2000,, 20(0gb 20ridol 20spx 201m toot berrdbo 8 ,seonsprer 20beumeNylst 7 ,r22 cllce0 leab t 0 38 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 ,e ru t1 , 24 81 2, 53 e,ru t3 6, uetr 80 5 5, Y NCREUR C 73 9 2, 79 ,) 45z( 75 6 5, 9 7, 75 0 3 2 20 , 3B 0), 20 2000,b(rgd 20lisox 201p 20omttbor deor b 8, e nspoes 20rermbNulety s 7, 2 rc1l el ce0blta0 8 3, htig r 68 e,lsfa 44 e,ru t3 4, N IOUTOL S 76 5 5, uetr 1, 24 1 8, 23 5, uetr 63 e,ru t0 8 55 ,CYENRRCU 3 7 29 , 9 7, 6)(3 z 5 7 56 , 79 , 5 7 30 2 0 2 , x 3B0p 20ntdeint ex t 8, t efeLylst 7 ,r20 cllce0 leab t 0 38 ,seal f4 4, seal f3 4, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,ldsos 20odgof 20 20ostCo 20ssLe 5 7 30 2 0 2 , seonsprer 20beumeNylstt 20ghRilety s 7, e ru t3 4, t ghri 8 6, N IOUTOL S 76 5 5, 24 1 8, 23 5, uetr 63 5 5, Y NCREUR C 73 9 2, 79 ,) 61z( 75 6 5, 9 7, 75 0 3 2 20 , e nspoes 20rermbNulety 20shtigeRylst 7 ,uetr 43 ,htig r 68 ,ONTILUSO 6 7 55 , 24 81 2, 53 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 1)(6 z 5 7 56 , 79 , 5 7 30 2 0 2 , seonsprer 20beumeNylst 7 ,r12 cllce0 leab t 0 38 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 , 24 81 2, 53 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 1)(6 z 5 7 56 , 79 , 5 7 30 2 0 2 , seonsprer 20beumeNylst 7 ,r11 cllce0 leab t 0 38 ,t ghri 8 6, seal f4 4, uetr 43 ,ONTILUSO 6 7 55 , 24 81 2, 53 e,ru t3 6 55 ,CYENRRCU 3 7 29 , 9 7, 1)(6 z 5 7 56 , 79 , 5 7 30 2 0 2 , x 3B0p 20ntdeint ex t 8, t efeLylst 7 ,r10 cllce0 leab t 0 38 ,seal f4 4, seal f3 4, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,esal S 75 0 3 2 20 , 3B 1)21, 2063 2017,13b(rg 20orol cndougrckba 8 ,erntCelety 20sldBolety s 7, erntce 8 6, uetr 10 ,1)21, 2063 2017,13b(rg 9 ,ONTIESQU 6 7 55 , 9 7, n ioaticifntde 20IicifecSp 5 7 30 2 0 2 , ) 3B11 2023,16, 2037(1gb 20rr locod unrokgac b 8, r teeneCylstd 20oleBylst 7 ,r teen c 68 e,ru t0 1, ) 11 2023,16, 2037(1gb r 9, N IOSTUE Q 76 5 5, 79 ,gerave 20AedhtigWe 5 7 30 2 0 2 , x 3B0p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac 20bx 3B0p 20ntdeint ex t 8, r teeneCylstd 20oleBylst 7 ,r02 cllce0 leab t 0 38 ,r teen c 68 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,FOLI 5 7 30 2 0 2 , x 3B0p 20ntdeint ex 20tx 3B0p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac b 8, r teeneCylstd 20oleBylst 7 ,r01 cllce0 leab t 0 38 ,r teen c 68 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 ,FOFI 5 7 30 2 0 2 , x 3B0p 202t ghei 20h) 3B11 2023,16, 2037(1gb 20rr locod unrokgac b 8, d oleBylst 7 ,r00 cllce0 leab t 0 38 ,t ef l 68 0, 39 e,lsfa 74 e,lsfa 49 e,ru t0 1, seal f4 4, seal f3 4, ) 11 2023,16, 2037(1gb r 9, ) 34, 2034, 2034b(rg 5 1, N IOSTUE Q 76 5 5, seal f1 5 5, G INTR S 73 9 2, 79 , 5 7 30 2 0 2 13 e,lsfa 41 ,n owpDro d 27 1, 5 2, 75 e,lsfa 82 8 2, 22 e,lsfa 35 e,ru t6 3, 55 ,leab 20TedtltiUn 9 6, 57 1, 48 5 5 6 References eBook Resources WorksheetDifficulty Hard Problem 5 3A Perpetual Alternative cost flows LO P1Learning Objective 05 P1 Compute inventory in a perpetual system using the methods of specific identification, FIFO, LIFO, and weighted average

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Problem 5-3A Perpetual: Alternative cost flows LO P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales

Problem 5-3A Perpetual: Alternative cost flows LO P1

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales transactions.

Date		Activities	Units Acquired at Cost						Units Sold at Retail
Jan.	1	Beginning inventory	600	units	@	$	60	/unit
Feb.	10	Purchase	400	units	@	$	57	/unit
Mar.	13	Purchase	150	units	@	$	45	/unit
Mar.	15	Sales								750	units	@	$	85	/unit
Aug.	21	Purchase	150	units	@	$	65	/unit
Sept.	5	Purchase	450	units	@	$	61	/unit
Sept.	10	Sales								600	units	@	$	85	/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.

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2.	Compute the number of units in ending inventory.

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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 600 units from beginning inventory, 300 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.)

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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.)

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References

eBook & Resources

WorksheetDifficulty: Hard

Problem 5-3A Perpetual: Alternative cost flows LO P1Learning Objective: 05-P1 Compute inventory in a perpetual system using the methods of specific identification, FIFO, LIFO, and weighted average.