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

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Accounting

Montoure Company uses a perpetual inventory system. It enteredinto the following calendar-year purchases and salestransactions

DateActivitiesUnits Acquired at CostUnits Sold at Retail
Jan.1Beginning inventory600units@ $60 per unit
Feb.10Purchase480units@ $57 per unit
Mar.13Purchase120units@ $42 per unit
Mar.15Sales785units@ $80 per unit
Aug.21Purchase180units@ $65 per unit
Sept.5Purchase470units@ $63 per unit
Sept.10Sales650units@ $80 per unit
Totals1,850units1,435units

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 600 units from beginning inventory, 380 fromthe February 10 purchase, 120 from the March 13 purchase, 130 fromthe August 21 purchase, and 205 from the September 5 purchase.(Round your average cost per unit to 2 decimalplaces.)

Compute gross profit earned by the company for each of the fourcosting methods

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