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Show me step by step Solution Montoure Company uses a perpetual inventory system. It entered into the following calendar - year purchases and sales transactions.
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Montoure Company uses a perpetual inventory system. It entered into the following calendaryear purchases and sales transactions.
Required:
Compute the cost assigned to ending inventory using
a FIFO,
b LIFO,
c weighted average, and
d specific identification. For specific identification, units sold consist of units from beginning inventory, from the February purchase, from the March purchase, from the August purchase, and from the September purchase.
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tablePerpetual FIFO,Perpetual LIFO,tableWeightedAveragetableSpecificIdentification
Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of units from from the February purchase, from the March purchase, from the August purchase, and from the September purch
tableSpecific IdentificationDateGoods Available for Sale,Cost of Goods Sold,Ending Inventorytable# ofunitstableCostperunittableCost ofGoodsAvailablefor Saletable# ofunitssoldtableCostper unittableCost ofGoodsSoldtable# of unitsin endinginventorytableCost perunittableEndingInventoryJanuary $$$$February March August September Total$$
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