Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales...

  

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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Units Acquired at Cost 600 units @ $60 per unit 480 units @ $57 per unit 120 units @ $42 per unit Date Activities Units Sold at Retail 1 Beginning inventory 10 Purchase Jan. Feb. Mar. 13 Purchase Mar. 15 Sales 785 units @ $80 per unit Aug. 21 Purchase Sept. 180 units @ $65 per unit 470 units @ $63 per unit 5 Purchase Sept. 10 Sales 650 units @ $80 per unit Totals 1,850 units 1,435 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. $ 109,710 Cost of goods available for sale Number of units available for sale 1,850 units 2. Compute the number of units in ending inventory. Ending inventory 415 units Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Cost of Goods Sold Goods Purchased # of units Inventory Balance Cost per Cost per Cost of Goods Sold unit Cost per unit Inventory Balance Date # of units sold # of units unit Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals 0.00 $ 0.00 Perpetual FIFO Perpetual LIFO > Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost of Goods Sold Inventory Balance Cost per unit Cost # of units sold per unit Cost of Goods Sold Cost per unit Inventory Balance Date # of units units Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals 0.00 Perpetual FIFO Weighted Average > Complete this question by entering your answers in the tabs below. 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: Inventory Balance Goods Purchased # of Cost of Goods Sold Cost per unit Cost per Cost of Goods Sold unit Cost per # of units sold Inventory Balance Date # of units units unit Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals 0.00 < Perpetual LIFO Specific Id > Complete this question by entering your answers in the tabs below. Perpetual Perpetual LIFO Weighted Average Specific Id FIFO Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 380 from the February 10 purchase, 120 from the March 13 purchase, 130 from the August 21 purchase, and 205 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Cost per # of units sold # of units Cost per unit Cost per unit Inventory Balance Date Cost of Goods Sold # of units unit January 1 600 @ $ 60.00 = $ 36,000.00 February 10 March 13 March 15 Aug 21 Sep 5 Sep 10 Totals $ 0.00 < Weighted Average Specific Id Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Units Acquired at Cost 600 units @ $60 per unit 480 units @ $57 per unit 120 units @ $42 per unit Date Activities Units Sold at Retail 1 Beginning inventory 10 Purchase Jan. Feb. Mar. 13 Purchase Mar. 15 Sales 785 units @ $80 per unit Aug. 21 Purchase Sept. 180 units @ $65 per unit 470 units @ $63 per unit 5 Purchase Sept. 10 Sales 650 units @ $80 per unit Totals 1,850 units 1,435 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. $ 109,710 Cost of goods available for sale Number of units available for sale 1,850 units 2. Compute the number of units in ending inventory. Ending inventory 415 units Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. (Round your average cost per unit to 2 decimal places.) Perpetual FIFO: Cost of Goods Sold Goods Purchased # of units Inventory Balance Cost per Cost per Cost of Goods Sold unit Cost per unit Inventory Balance Date # of units sold # of units unit Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals 0.00 $ 0.00 Perpetual FIFO Perpetual LIFO > Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using LIFO. (Round your average cost per unit to 2 decimal places.) Perpetual LIFO: Goods Purchased # of Cost of Goods Sold Inventory Balance Cost per unit Cost # of units sold per unit Cost of Goods Sold Cost per unit Inventory Balance Date # of units units Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Mar 13 Mar 15 Aug 21 Sept 5 Sept 10 Totals 0.00 Perpetual FIFO Weighted Average > Complete this question by entering your answers in the tabs below. 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: Inventory Balance Goods Purchased # of Cost of Goods Sold Cost per unit Cost per Cost of Goods Sold unit Cost per # of units sold Inventory Balance Date # of units units unit Jan 1 600 @ $ 60.00 = $ 36,000.00 Feb 10 Average Mar 13 Mar 15 Aug 21 Average Sept 5 Sept 10 Totals 0.00 < Perpetual LIFO Specific Id > Complete this question by entering your answers in the tabs below. Perpetual Perpetual LIFO Weighted Average Specific Id FIFO Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 380 from the February 10 purchase, 120 from the March 13 purchase, 130 from the August 21 purchase, and 205 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.) Specific Identification: Goods Purchased Cost of Goods Sold Inventory Balance Cost per # of units sold # of units Cost per unit Cost per unit Inventory Balance Date Cost of Goods Sold # of units unit January 1 600 @ $ 60.00 = $ 36,000.00 February 10 March 13 March 15 Aug 21 Sep 5 Sep 10 Totals $ 0.00 < Weighted Average Specific Id

Answer rating: 100% (QA)

Solution 1 Cost of goods available for sale Date Activities Units Cost per unit Total cost Jan 1 Beginning inventory 600 60 36000 Feb 10 Purchase 480 ... View the full answer