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On May 10, Lautenbach Inc., sold 115 Trap laptop computers to Wave Co. At the date of this sale, Lautenbach's perpetual inventory records included the

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On May 10, Lautenbach Inc., sold 115 Trap laptop computers to Wave Co. At the date of this sale, Lautenbach's perpetual inventory records included the following cost layers for the Trap laptops: Required: Prepare Journal entries to record the cost of the 115 Trap laptops sold on May 10, assuming that Lautenbach Computing uses the following: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. Specific Identification method (72 of the units sold were purchased on April 9, and the remaining units sold were purchased on May 1). b. Average-cost method. c. FIFO method. d. LIFO method

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