12 es Required information The following information applies

Last updated: 9/7/2023

12 es Required information 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 January 10 March 14 March 15 July 30 October 5 October 26 a Cost of Goods Sold using Specific Identification Available for Sale Date January 1 March 14 20 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals Binch Activity Beginning Inventory Purchase of units 290 500 Units Acquired at Cost 13 60 18 60 23 60 28 60 400 290 units 500 units 490 units 190 units 1 470 units Ending inventory consists of 40 units from the March 14 purchase 80 units from the July 30 purchase and all 190 units from the October 26 purchase Using the specific identification method calculate the following 3 944 Cost Per of units Unit sold 9 300 11 564 5 434 30 242 Units Sold at Retail Cost of Goods Sold Cost Per Unit 260 units Cost of Goods Sold 430 units 470 units 1 160 units 43 60 Ending Inventory Units 43 60 43 60 Ending Inventory Cost Per Unit Ending Inventory Cost