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(solution) Problem 5-3A Perpetual: Alternative cost flows LO P1 Montoure


Problem 5-3A Perpetual: Alternative cost flows LO P1

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2015 purchases and sales transactions.

 

Date   Activities Units Acquired at Cost Units Sold at Retail
  Jan. 1     Beginning inventory 620  units @ $ 45  per unit                
  Feb. 10     Purchase 380  units @ $ 42  per unit                
  Mar. 13     Purchase 100  units @ $ 30  per unit                
  Mar. 15     Sales               735  units @ $ 70  per unit  
  Aug. 21     Purchase 170  units @ $ 50  per unit                
  Sept. 5     Purchase 400  units @ $ 46  per unit                
  Sept. 10     Sales               570  units @ $ 70  per unit  
                            
        Totals 1,670  units           1,305  units          
                            

    
 

Required:

1.

Compute cost of goods available for sale and the number of units available for sale.

   
 


 


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