Problem 5-3A Perpetual: Alternative cost flows P9 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Units Sold at Retail Date Jan. 1 Beginning inventory 600 units$45.00 per unit Feb. 10 Purchase Mar. 13 Purchase Mar. 15Sales Aug. 21 Purchase Sep. 5 Purchase Sep. 10 Sales Units Acquired at Cost 400 units $42.00 per unit 200 units @ $27.00 per unit 800 units $75.00 per unit 100 units @ $50.00 per unit 500 units @ $46.00 per unit 600 units $75.00 per unit 1,400 units Totals 1,800 units Required 1. Compute cost of goods available for sale and the 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 (Round all amounts to cents.) Check (3) Ending inventory FIFO, $18,400; LIFO, $18,000; WA, $17360 4. Compute gross profit earned by the company for each of the four costing methods in part 3. (4) LIFO gross profit, $45,800