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

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

 DateActivitiesUnits Acquired at CostUnits Sold at Retail Jan.1 Beginning inventory 780units@ $80.00 per unit     Feb.10 Purchase 490units@ $77.00 per unit     Mar.13 Purchase 290units@ $62.00 per unit     Mar.15 Sales     890units@ $110.00 per unit Aug.21 Purchase 280units@ $85.00 per unit     Sept.5 Purchase 680units@ $81.00 per unit     Sept.10 Sales     1,040units@ $110.00 per unit    Totals 2,520units  1,930units 

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 780 units from beginning inventory, 210 from the February 10 purchase, 290 from the March 13 purchase, 140 from the August 21 purchase, and 510 from the September 5 purchase. (Round your average cost per unit to 2 decimal places. Round your final answers to the nearest whole dollar amount.)

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. Round your final answers to the nearest whole dollar amount.)

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