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On May 10, Hudson computing sold 90 Millennium computers to Apex publishers. At the date of this sale, Hudsons perpetual inventory records included the following

On May 10, Hudson computing sold 90 Millennium computers to Apex publishers. At the date of this sale, Hudsons perpetual inventory records included the following cost layers for the Millennium laptops.

Purchase date quantity unit cost Total cost
April 09 70 1,500 105,000
May 01 30 1,600 48,000
Total on hand 100 153,000

Task 1.Prepare journal entries to record the cost of the 90 Millennium laptops sold on May 10, assuming that Hudson computing uses the following: a. Specific identification method (62 of the units sold were purchased on April 9, and remaining units were purchased on May 1) b. Average cost method c. FIFO method d. LIFO method

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