b 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 $540$ units from beginning inventory, $360$ from the February $10$ purchase, $100$

from the March $13$ purchase, $120$ from the August $21$ purchase, and $225$ from the September $5$ purchase.$)$

Complete this question by entering your answers in the tabs below.

Compute the cost assigned to ending inventory using FIFO.

Note: Round your average cost per unit to $2$ decimal places. Compute gross profit earned by the company for each of the four costing methods.

Note: Round your average cost per unit to $2$ decimal places.

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?

FIFO

LIFO

Weighted Average

Specific IdentificationMontoure Company uses a perpetual inventory system. b It entered into the following calendar$-$year purchases and sales

transactions.

Required:

Compute cost of goods available for sale and the number of units available for sale.

Compute the number of units in ending inventory.