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 600 units @ $45.00 per unit Feb. 10 Purchase 400 units @ $42.00 per unit Mar. 13 Purchase 200 units@ $27.60 per unit Mar. 15 Sales 800 units @ $75.60 per unit Aug. 21 Purchase 100 units @ $50.00 per unit Sept. 5 Purchase 500 units @ $46.00 per unit Sept. 10 Sales 600 units @ $75.68 per unit Totals 1,898 units 1,400 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. 5 Cost of goods available for sale Number of units available for sale $ 77,200 1,800 units 2. Compute the number of units in ending inventory. Ending inventory 400 units 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.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 $ 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 FIFO Weighted Average UFO