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

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 Date Activities Units Acquired at Cost Units Sold at Retall Jan. 1 Beginning inventory 540 units 555 per unit Feb. 10 Purchase 460 units@ $53 per unit Mar. 13 Purchase 100 units $40 per unit Mar. 15 Sales 745 units 580 per unit Aug. 21 Purchase 170 units 561 per unit Sept. 5 Purchase 430 units@ $54 per unit Sept. 10 Sales 600 units 500 per unit Totals 1,700 units 1.345 units Required: 1. Compute cost of goods available for sale and the number of units available for sale Colt of goods available for sale Number of units available for sale 5 91,670 1,700 units 2. Compute the number of units in ending inventory Ending Inventory 400 units 3. Compute the cost assigned to ending inventory using (a) FIFO. () LIFO. (weighted average, and () specific identification, For specific identification, units sold consist of 540 units from beginning inventory, 360 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 225 from the September 5 purchase. 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: Date Goods Purchased Nof units unit Cost per Cost of Goods Sold # of units Cost pel Cost of Goods Sold sold unit Cost per dan 1 Feb 10 400 $4200 600) @ Inventory Balance of units Inventory unit Balance 540 e $55.00 - $ 29,700.00 55500 5 33,000.00 $42.00 $ 33,000 00 @ $55 00 @ $42.00 @ $27.00 Mar 13 2001 $ 2700 Mar 15 6001 $5500 $ 42.00 200 e $ 33.000,00 840000 $ 41.400.00 @ @ $ 4200 $ 2700 Aug 21 170 561 001 @ $42.00 $ 27.00 55100 Sept 5 500 e $ 4600 + @ $ 42.00 $ 27.00 561.00 5 46.00 Sept 10 200 200 100 100 Totals $ 41.400 00 0.00 Perpetual LIFO > 3. Compute the cost assigned to ending inventory using (a) FIFO.(1) LIFO, (a weighted average, and (c) specific identification. For specific identification, units sold consist of 540 units from beginning inventory, 360 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 225 from the September 5 purchase. Complete this question by entering your answers in the tabs below. Perpetual Fifo Perpetual LIFO! Welchted 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 Cost of Goods Sold Inventory Balance # of Date # of units Cost per cost of Goods Sold units Inventory unit sold # of units unit unit Balance Jan 1 540 @ $ 5500 $ 29,700 00 Cost per Cost per Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals 0.00 3. Compute the cost assigned to ending inventory using (a) FIFO. (6) LIFO. (d weighted average, and (c) specific identification For specific identification, units sold consist of 540 units from beginning inventory. 360 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 225 from the September 5 purchase Complete this question by entering your answers in the tabs below. Cost per Perpetual FIFO Perpetual UFO Weighted Specific id Average Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 540 units from beginning Inventory, 360 from the February 10 purchase, 100 from the March 13 purchase, 120 from the August 21 purchase, and 225 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of of units Cost per #ol units Goods Cost of of units unit Available Ending sold Goods unit In ending Sold Inventory unit for Sale Inventory Beginning inventory 540 555.00 $ 27,000 $ 5500 5 0 Purchases Feb 10 460 5 5300 16,800 360 $ 53.00 19,080 100 $ 5300 5,300 March 13 100 $40.00 5,400 0 $ 40.00 0 Aug 21 170 $61 00 5,000 0 $ 61.00 0 Sep 5 430 $ 5400 23.000 0 $ 5400 0 Total 1,700 $. 77.200 360 $ 19.000 100 5 5300 Cost per