Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactionsDateActivitiesUnits Acquired at Cost620 units @ $45 per unit310 units @ $42 per unit120 units @ $30 per unitUnits Sold at RetailJan. 1 Beginning inventoryFeb. 10 PurchaseMar. 13 PurchaseokMar. 15 Sales770 units @ $85 per unitAug. 21 PurchaseSept. 5 PurchaseSept. 10 Sales190 units @ $50 per unit520 units @ $48 per unit710 units @ $85 per unitintTotals1,760 units1,480 unitsRequired:1. Compute cost of goods available for sale and the number of units available for sale.Cost of goods available for saleNumber of units available for saleunits2. Compute the number of units in ending inventory.Ending inventoryunits< Prev1 of 4Next >McGrawHillMacBook Pro...

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Description: Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactionsDateActivitiesUnits Acquired at Cost620 units @ $45 per unit310 units @ $42 per unit120 units @ $30 per unitUnits Sold at

Cost of goods available for sale = opening inventory + purchases

Business

Accounting

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales tra Units Acquired at Cost 620 units e $45 per unit 310 units e $42 per unit 120 units e $30 per unit Date Activities Units Sold at Retail Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase 770 units @ $85 per unit Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales 190 units e $50 per unit 520 units e $48 per unit 710 units e $85 per unit 1,760 units 1,480 units Totals 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 units 2. Compute the number of units in ending inventory. units Ending inventory

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales tra Units Acquired at Cost 620 units e $45 per unit 310 units e $42 per unit 120 units e $30 per unit Date Activities Units Sold at Retail Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase 770 units @ $85 per unit Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales 190 units e $50 per unit 520 units e $48 per unit 710 units e $85 per unit 1,760 units 1,480 units Totals 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 units 2. Compute the number of units in ending inventory. units Ending inventory

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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