[The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product Date January 1 Activities Beginning inventory January 10 March 14 Sales Purchase March 15 July 30 October 5 October 26 Sales Purchase Sales Purchase Totals 200 units Units Acquired at Cost $10 $2,000 150 units Units Bold at Retail #540 350 units 4 $15 5,250 300 unite #540 450 units $20 9,000 430 units 540 100 units 1,100 units $25 2,500 $18,750 980 unite Ending inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 100 units from the October 26 purchase. Using the specific identification method, calculate the following. a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Date Activity of units Cost Per Unit #of units sold Cost Per Unit COGS Ending Inventory Cost Per Ending Inventory Unit Units Cost January 1 Beginning Inventory 200 March 14 Purchase 350 July 30 Purchase 450 October 26 Purchase 100 5555 0.00 $ $ 0.00 $ $ 0.00 0 $ 0.00 O $ 0.00 0 $ 0.00 0.00 $ 0.00 1,100 0 $ $ b) Gross Margin using Specific Identification LASS < Prev of 6 Next >