Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactio Date Activities January 1 Beginning inventory February 10 Purchase March 13 Purchase March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Units Acquired at Cost 600 units @$60 per unit 400 units @ $57 per unit 150 units $45 per unit Units Sold at Retail 750 units @ $85 per unit 150 units @$65 per unit 450 units @$61 per unit 1,750 units 600 units @ $85 per unit 1,350 units January 1 February 10 Total February 10 March 13 Total March 13 March 15 Total March 15 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 3. Compute the cost assigned to ending inventory using units (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 150 from the March 13 purchase, 100 from the August 21 purchase, and 200 from the September 5 purchase.) Perpetual FIFO: August 21 Total August 21 September 5 Total September 5 September 10 Total September 10 Goods Purchased # of units of units sold Perpetual LIFO Cost of Goods Gold Inventory Balance Cost per Cost of Goods Sold Cost per # of units Weighted Average Perpetual: 0.00 Inventory $60.00 $ 30,000.00 Date Goods Purchased Cost per # of units of units Cost of Goods Sold Cost per Cost of Goods Sold Inventory Balance Cost per of units Inventory Balance $60.00 $36,000.00 January 1 February 10 Average February 10 March 13 Average March 13 Goods Purchased Date # of units Cost per unit # of units Cost of Goods Sold Cost per Cost of Goods Sold sold unit # of units Inventory Balance Cost per unit Inventory Balance January 1 600 at $ 60.00 $ 36,000.00 March 15 February 10 Total February 10 March 13 Total March 13 March 15 Total March 15 August 211 Total August 21 September 5 Total September 5 September 10 Total September 10 Totals August 21 Average August 21 September 5 Average September 5 September 10 Totals 0.00 Specific Identification Goods Available for Sale Cost of Goods Sold Date # of units Cost per unit Cost of Goods Available for # of units # of units sold Cost per unit Cost of Goods Sold Sale in ending inventory January 1 $ 이 $ 0.00 $ February 10 0 0.00 0 March 13 0 0.00 0 0.00 August 21 September 5 Total 0 $ 이 0 Ending Inventory Cost per Ending unit Inventory 0.00 ° 0.00 0 0.00 0 0.00 0.00 0 0 0 S 0 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places. FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ ° S $ 0.00 0.00 5. The company's manager earns a bonus based on a percent of gross profit. Which method of inventory costing produces the highest bonus for the manager? O FIFO O LIFO O Specific Identification O LIFO