Problem 6-3A (Algo) 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 January 1 Activities Beginning inventory February 18 Purchase Units Acquired at Cost 588 units $40 per unit 420 units @$38 per unit Units Sold at Retail March 13 March 15 Purchase Sales August 21 Purchase September 5 Purchase 180 units 190 units 560 units @$25 per unit 755 units @ $70 per unit $45 per unit $41 per unit September 18 Sales 750 units @$70 per unit Totals 1,930 units 1,505 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 (4) FIFO, (D) LIFO. (d) weighted average, and (d) specific identification. (For specific identification, units sold consist of 580 units from beginning inventory 320 from the February 10 purchase, 180 from the March 13 purchase, 140 from the August 21 purchase, and 285 from the September 5 purchase)