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Montoure Company uses a periodic inventory system. It entered into the following calendar-year 2015 purchases and sales transactions.

Date

Activities

Units Acquired at Cost

Units Sold at Retail

Jan.

1

Beginning inventory

630

units

@ $50.00 per unit

Feb.

10

Purchase

415

units

@ $47.00 per unit

Mar.

13

Purchase

215

units

@ $32.00 per unit

Mar.

15

Sales

815

units

@ $80.00 per unit

Aug.

21

Purchase

130

units

@ $55.00 per unit

Sept.

5

Purchase

530

units

@ $51.00 per unit

Sept.

10

Sales

660

units

@ $80.00 per unit

Totals

1,920

units

1,475

units

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

2.	Compute the number of units in ending inventory.

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 630 units from beginning inventory, 285 from the February 10 purchase, 215 from the March 13 purchase, 65 from the August 21 purchase, and 280 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.)

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

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