Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions 25 Units Sold at Retail Units Acquired at Cost 600 units @ $60 per unit 400 units @ $57 per unit 150 units @ $45 per unit Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 750 units @ $85 per unit 150 units @ $65 per unit 450 units @ $61 per unit 600 units @ $85 per unit 1,350 units 1,750 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 $ 90,750 1,750 units 25 2. Compute the number of units in ending inventory. Ending inventory 400 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (C) weighted average, and (c) specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 330 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase. Complete this question by entering your answers in the tabs below. ro Jan 1 600 @ $ 60.00 $ 36,000.00 Feb 10 400 @ $ 57.00 25 600 @ 400 @ $ 60.00 = $ 57.00 = $ 36,000.00 22,800.00 $ 58,800.00 Mar 13 150 @ $ 45.00 600 @ 400 @ $ 60.00 = $ 57.00 = $ 45.00 $ 36,000.00 22,800.00 9,000.00 $ 67,800.00 200 @ Mar 15 150 @ 600 @ 150 @ $ 60.00 $ 57.00 $ 36,000.00 8,550.00 $ 44,550.00 $57.00 $ 45.00 = 150 @ $ 8,550.00 6,750.00 $ 15,300.00 Aug 21 150 @ $ 65.00 0 @ 0 @ 150 @ $57.00 $ 45.00 $ 65.00 = 9,750.00 $ 9,750.00 Sept 5 450 @ $ 61.00 @ $ 57.00 $ 45.00 $ 65.00 $61.00 @ @ Sept 10 Totals $ 44,550.00 $ 0.00 Perpetual LIFO: Goods Purchased Cost of Goods Sold Inventory Balance 25 Date # of units Cost per # of units sold Cost per unit Cost of Goods Sold # of units unit Cost per unit $ 60.00 = Inventory Balance $ 36,000.00 Jan 1 600 @ Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals $ 0.00 Complete this question by entering your answers in the tabs below. 25 Perpetual FIFO Perpetual LIFO Weighted Average Specific id Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.) Weighted Average Perpetual: Goods Purchased # of Cost per Date units unit Jan 1 # of units sold Cost of Goods Sold Cost Cost of Goods Sold per unit Inventory Balance Cost Inventory # of units Balance 600 @ $ 60.00 = $36,000.00 per unit Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals $ 0.00 Complete this question by entering your answers in the tabs below. 25 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 330 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 600 $ 60.00 $ 27,000 600 $ 60.00 36,000 600 $ 60.00 $ 36,000 Beginning inventory Purchases: Feb 10 400 70 3,990 16,800 5,400 330 750 $ 57.00 $ 45.00 18,810 33,750 March 13 150 0 $ 57.00 $ 45.00 $ 65.00 $ 61.00 $ 57.00 $ 45.00 $ 65.00 $ 61.00 150 0 0 Aug 21 Sep 5 Total 450 5,000 23,000 $ 77,200 0 0 1,750 1,680 $ 88,560 670 $ 39,990