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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

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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 Activities Units Acquired at Cost Units sold at Retail Beginning Jan. 1 inventory 235 units $11.40 = $ 2,679 Jan.10 Sales @ 170 units $41.40 Mar.14 Purchase @ 360 units $16.40 5,904 Mar.15 Sales @ 298 units $41.40 July3e Purchase 435 units $21.40 9,309 Oct. 5 Sales 410 units $41.40 Oct 26 Purchase 135 units $26.40 3,564 Totals 1,165 units $21,456 870 units Required: Hemming uses a perpetual inventory system Assume that ending inventory is made up of 65 units from the March 14 purchase, 95 units from the July 30 purchase, and all 135 units from the October 26 purchase, Using the specific identification method, calculate the following ) Cost of Goods Sold using Specific tentification Available for Sale Cost of Goods Sold Ending Inventory Ending Ending Inventory Unit Cost Inventory Und Cost Units Units Unit Cont COGS Beginning Inventory O Jan MM 14 Say 30 Od 25 5 0.005 5 000 $ 0.00 3 000 BBBB 0005 000 000 0.00 Purchase Purchase 5 3 . . Grooming soon

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