Question
Question 1 a-d. Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purchases and sales transactions. Date Activities Units Acquired
Question 1 a-d. Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purchases and sales transactions.
Date
Activities | Units Acquired at Cost | Units Sold at Retail | |||||||||||||||
Jan. | 1 | Beginning inventory | 600 | units | @ | $ | 35 | per unit | |||||||||
Feb. | 10 | Purchase | 300 | units | @ | $ | 32 | per unit | |||||||||
Mar. | 13 | Purchase | 150 | units | @ | $ | 20 | per unit | |||||||||
Mar. | 15 | Sales | 725 | units | @ | $ | 80 | per unit | |||||||||
Aug. | 21 | Purchase | 190 | units | @ | $ | 40 | per unit | |||||||||
Sept. | 5 | Purchase | 540 | units | @ | $ | 37 | per unit | |||||||||
Sept. | 10 | Sales | 730 | units | @ | $ | 80 | per unit | |||||||||
Totals | 1,780 | units | 1,455 | units | |||||||||||||
a. Compute cost of goods available for sale and the number of units available for sale.
b. Compute the number of units in ending inventory.
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