Question

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Units Acquired at Cost 600 units @ $40 per unit 360 units @ $37 per unit 150 units @ $25 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 765 units @ $80 per unit 200 units @ $45 per unit 580 units @ $42 per unit 780 units @ $80 per unit 1,545 units 1,890 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 $ 74.430 1,890 units 2. Compute the number of units in ending inventory. Ending inventory 345 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, 260 from the February 10 purchase, 150 from the March 13 purchase, 150 from the August 21 purchase, and 385 from the September 5 purchase.

PLEASE ANSWER THE FOLLOWING ACCORDING TO THEIR RESPECTIVE TABLES; {THE BLANK BLUE HIGHLIGHT AROUND EACH UNIT ARE REQUIRED}

THANK YOU!!

Answer 1

units Costpunuenta - Pee petual # of FIRO- Costpu Units Costpu cous 600 Date units ! Jang Feglo 36037 $13320 Foo tuo 24000 37 25 $3730 25 43700 Mas 13 150 25 Ibalance 140 24000 600 140 24000 360 37 113320 40 24000 13320 150 1$370 195 7215 ISO 25 3750 7215 25 3750 200 9000 7215 199 1150 Mar 13 37 Yo $24000 $6105 165 Maris 37 1946 9000/ Augal (200 145 32 13750 I 25 9000 seps 1580/42 $29360 45 42 | 2 4360 580 3450 345 142 114490 Sepio 25 37 7215 3750 9000 42 +99870 75

Perpetual LIFO Inventory cous, Units I costpo Goods Site Units / Costpol Funits i Costpol 600 | 40 2400o. 600 40 24000 360 . 37 13320 Jana rebo 360 37 / $13320 600 360 yo 37 25 24000 13320 3750 3750 MAYB/50 25 3750 82040 20400 13800 150 70570 25 25 13320 1345 This yos 360 37 1996 1.40 (0900 346 Aug21/200/459000 YO 183800 45 9000 yo 3800 9000 42 124360 200 545 560/42 24360 580 580 42 2436059 woo 9000 345401 1900 13800 sous Sales cogs up I FIFO I LIROL WAM., Speatic. | $123600 $123600 $1236001 $123 hool $123600 $59940 $ 60630 $60285 | $63660) $62970 $63315|

Weightee Average Method I Inventay | Inventory | Date 1 Particular | Unets &cast cost Morning units Aug cost Sans Beg no. 600@40 - $24000 $24000 600 40 Fehlo purchase 360 @37 960 $33320 38-875 Harls Purchase 150@25- 3750 $41070 1110 37 Maris Saks. [email protected] $12765 345 37 Purchase 545 Augal 200@45€ 9000 21765 39.94 Puxhase 1520@42224360 46125 11125 780@41 = 3198014145 sale Seplo 345 Seps ul ul