VIL DULU al Real 200 units @ $42.00 udle ALLVILLE Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July30 Purchase Oct. 5 Sales Oct.26 Purchase Totals US ALYUTLUL LUS 250 units @ $12.00 = $ 3,000 400 units @ $17.00 = 6,800 450 units @ $22.00 = 9,900 150 units @ $27.00 = 4,050 1,250 units $23,750 360 units @ $42.00 420 units @ $42.00 980 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 150 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 Units Unit Cost Jan 1 Beginning Inventory 250 $ 12.00 Mar. 14 Purchase 400 $ 17.00 July 30 Purchase 450 $ 22.00 Oct 26 Purchase 150 $ 27.00 1.250 b) Gross Margin using Specific Identification Sales Less Cost of goods sold Cost of Goods Sold Ending Inventory Units Ending Ending Unit Cost COGS Inventory Sold Inventory Unit Cost Units Cost 250 $ 12.00 $ 3,000 250 $ 12.00 $ 3,000 $ 17.00 0 45 $ 17.00 765 420 $ 22.00 9,240 75 $ 22.00 1,650 150 $ 27.00 4,050 150 $ 27.00 4,050 820 $ 16,290 520 $ 9,465 new me ===