Problem 6-4AA Periodic: Alternative cost flows LO P3 Montoure Company uses a periodic Inventory system. It entered into the following calendar-year purchases and sales transactions. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning Inventory 748 units @ $60.ee per unit Feb. 10 Purchase 478 units @ $57.68 per unit Mar. 13 Purchase 278 units @ $42.00 per unit Mar. 15 Sales 878 units @ $90.88 per unit Aug. 21 Purchase 248 units @ $65.68 per unit Sept. 5 Purchase 648 units @ $61.80 per unit Sept. 10 Sales 968 units @ $90.00 per unit Totals 2,360 units 1,838 units Required: Compute cost of goods available for sale and number of available for sal 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. (6) LIFO. (9 weighted average, and a specific identification. For specific identification units sold consist of 740 units from beginning Inventory. 230 from the February 10 purchase. 270 from the March 13 purchase. 120 from the August 21 purchase, and 470 from the September 5 purchase. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) 3. Compute the cost assigned to ending Inventory using (a) FIFO. (6) LIFO. (welghted average, and (a specific identification. For specific identification units sold consist of 740 units from beginning inventory. 230 from the February 10 purchase, 270 from the March 13 purchase, 120 from the August 21 purchase, and 470 from the September 5 purchase. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.) Ending Inventory (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification 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. Round your final answers to the nearest whole dollar amount.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ OS 5. The company's manager earns a bonus based on a percent of gross profit. Which method of Inventory costing produces the highest bonus for the manager? Specific Identification OLIFO O FIFO Weighted Average