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Exercise 8.2 (Algo) Cost Flow Assumptions (L08-1) On May 10, Hudson Computing sold 92 Millennium laptop computers to Apex Publishers. At the date of this
Exercise 8.2 (Algo) Cost Flow Assumptions (L08-1) On May 10, Hudson Computing sold 92 Millennium laptop computers to Apex Publishers. At the date of this sale. Hudson's perpetual Inventory records included the following cost layers for the Millennium laptops. Quantity Unit cost Total cost $ 97,500 $1,600 56.000 Total on hand 100 $153,500 Purchase Date Apr. 9 May 1 $1,500 65 35 Prepare journal entries to record the cost of the 92 Millennium laptops sold on May 10, assuming that Hudson Computing uses the following (Round your final answers to the nearest dollar amount. If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) a. Specific identification method (62 of the units sold were purchased on April 9, and the remaining units were purchased on May 1) b. Average-cost method c. FIFO method d. LIFO method View transaction list Journal entry worksheet 1 2 Record the cost of 92 Millenium computers sold to Apex Publishers. Note: Enter debits before credits Transaction General Journal Debit Credit
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