ces Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Activities Beginning inventory February 10 March 13 Purchase Purchase March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Units Acquired at Cost 685 units @$45.00 per unit 570 units @ $42.00 per unit 285 units @ $27.00 per unit Units Sold at Retail 1,140 units @ $75.00 per unit 185 units 585 units @ $50.00 per unit @ $46.00 per unit 2,310 units 770 units @ $75.00 per unit 1,910 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 2. Compute the number of units in ending inventory. Ending inventory units units

ces Montoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions. Date January 1 Activities Beginning inventory February 10 March 13 Purchase Purchase March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Units Acquired at Cost 685 units @$45.00 per unit 570 units @ $42.00 per unit 285 units @ $27.00 per unit Units Sold at Retail 1,140 units @ $75.00 per unit 185 units 585 units @ $50.00 per unit @ $46.00 per unit 2,310 units 770 units @ $75.00 per unit 1,910 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 2. Compute the number of units in ending inventory. Ending inventory units units

Name: cesMontoure Company uses a periodic inventory system. It entered into
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Description: cesMontoure Company uses a periodic inventory system. It entered into the following calendar-year purchases and sales transactions.DateActivitiesJanuary 1Beginning inventoryFebruary 10PurchaseMarch 13PurchaseMarch 15SalesAugust 21PurchaseSeptember 5

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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