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

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. 1 Beginning inventory 600 units @ $40 per unit
Feb. 10 Purchase 400 units @ $37 per unit
Mar. 13 Purchase 190 units @ $15 per unit
Mar. 15 Sales 805 units @ $70 per unit
Aug. 21 Purchase 190 units @ $45 per unit
Sept. 5 Purchase 550 units @ $43 per unit
Sept. 10 Sales 740 units @ $70 per unit
Totals 1,930 units 1,545 units


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

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Answer #1
Units Unit cost Total
Jan 1 600 40 24000
Feb 10 400 37 14800
Mar 13 190 15 2850
Aug 21 190 45 8550
Sept 5 550 43 23650
Total 1930 73850
Cost of goods available for sale 73850
Number of units available for sale 1930 units
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