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Required information The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date
Required information The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Dan. 1 Beginning inventory Jan. 10 Sales Mar.14 Purchase Mar. 15 Sales July30 Purchase Oct. 5 Sales Oct. 26 Purchase 205 units @$.10.20 =2,091 300 units $15.20-4,560 400 units $20.20 - 195 units $25.202,646 Units Sold at Retail 160 units$40.20 250 units$40.20 375 units $40.20 8,080 Totals 1,010 units $17,377 785 units Required Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 105 units from the October 26 purchase. Using the specific identification method, calculate the following
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