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Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Hemming Company reported the

Use the following information for the Exercises below. (Algo)

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[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 Units Acquired at Cost Units Sold at Retail
January 1 Beginning inventory 205 units @ $10.20 = $ 2,091
January 10 Sales 160 units @ $40.20
March 14 Purchase 300 units @ $15.20 = 4,560
March 15 Sales 250 units @ $40.20
July 30 Purchase 400 units @ $20.20 = 8,080
October 5 Sales 375 units @ $40.20
October 26 Purchase 105 units @ $25.20 = 2,646
Totals 1,010 units $ 17,377 785 units

Exercise 5-9 (Algo) Specific identification LO P1

Hemming uses a periodic inventory system. Ending inventory consists 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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