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

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

Date

Activities

Units Acquired at Cost

Units Sold at Retail

Jan.

Beginning inventory

600

units

@ $40 per unit

Feb.

Purchase

360

units

@ $37 per unit

Mar.

Purchase

150

units

@ $25 per unit

Mar.

Sales

765

units

@ $80 per unit

Aug.

Purchase

200

units

@ $45 per unit

Sept.

Purchase

580

units

@ $42 per unit

Sept.

Sales

780

units

@ $80 per unit

Totals

1,890

units

1,545

units

Compute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.)

Compute the cost assigned to ending inventory using specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 260 from the February 10 purchase, 150 from the March 13 purchase, 150 from the August 21 purchase, and 385 from the September 5 purchase. (Round your average cost per unit to 2 decimal places.)

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Expert Solution

ekkarill92 answered 1 month ago

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