Problem $5-4$AA $($Algo$)$ Periodic: Alternative cost flows LO P$3$Montoure Company uses a periodic inventory system. It entered into the following calendar$-$year purchases and sales transactions.DateActivitiesUnits Acquired at CostUnits Sold at RetailJanuary $1$Beginning inventory$605$units@ $$45\mathrm{.}00$ per unitFebruary $10$Purchase$410$units@ $$42\mathrm{.}00$ per unitMarch $13$Purchase$205$units@ $$27\mathrm{.}00$ per unitMarch $15$Sales$820$units@ $$75\mathrm{.}00$ per unitAugust $21$Purchase$105$units@ $$50\mathrm{.}00$ per unitSeptember $5$Purchase$505$units@ $$46\mathrm{.}00$ per unitSeptember $10$Sales$610$units@ $$75\mathrm{.}00$ per unitTotals$1,830$units$1,430$unitsRequired:$1.$ Compute cost of goods available for sale and the number of units available for sale$\mathrm{.}2.$ Compute the number of units in ending inventory$\mathrm{.}3.$ 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 $605$ units from beginning inventory, $305$ from the February $10$ purchase, $205$ from the March $13$ purchase, $55$ from the August $21$ purchase, and $260$ from the September $5$ purchase.Note: Round your average cost per unit to $2$ decimal places. Round your final answers to the nearest whole dollar amount$\mathrm{.}4.$ 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. Round your final answers to the nearest whole dollar amount$\mathrm{.}5.$ The companys manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager?multiple choice $*$ FIFO $*$ LIFO $*$ Weighted Average $*$ Specific Identification$6.$