Use the following information for the Exercises 8-10 below. (Algo) [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Date Activities January 1 January 10 March 14 Beginning inventory Sales Purchase March 15 Sales July 30 October 5. Purchase Sales October 26 Purchase Totals Units Acquired at Cost 225 units @ $11.00 = Units Sold at Retail $ 2,475 150 units @ $41.00 340 units @$16.00 = 5,440 300 units @$41.00 425 units @$21.00 = 8,925 395 units @ $41.00 125 units 1,115 units @ $26.00 = 3,250 $ 20,090 845 units Exercise 5-9 (Algo) Specific identification LO P1 Ending inventory consists of 65 units from the March 14 purchase, 80 units from the July 30 purchase, and all 125 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 Date Activity January 1 Beginning Inventory March 14 Purchase July 30 Purchase October 26 Purchase b) Gross Margin using Specific Identification Less: Equals: Cost of Goods Sold Ending Inventory # of units Cost Per Unit # of units Cost Per COGS sold Unit Ending Inventory Units Cost Per Unit Ending Inventory Cost 225 $ 0.00 S 0 $ 0.00 $ 0 340 $ 0.00 0 $ 0.00 0 425 $ 0.00 0 $ 0.00 0 125 $ 0.00 0 $ 0.00 0 1,115 S 0 0 $ 0 S < Prev 13 of 14 Next >