Compute cost of goods available for sale and the number of units available for sale
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Compute cost of goods available for sale and the number of units available for sale
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Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales transactions.
DateActivitiesUnits Acquired at CostUnits Sold at Retail
Jan.1 Beginning inventory 600 units @ $45 per unit
Feb.10 Purchase 400 units @ $42 per unit
Mar.13 Purchase 200units@ $27 per unit
Mar.15 Sales 800 units@ $75 per unit
Aug.21 Purchase 100 units @ $50 per unit
Sept.5 Purchase 500 units @ $46 per unit
Sept.10 Sales 600 units@ $75 per unit
Totals 1,800 units 1,400 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
