Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 6.00

Hudson Computing

On May 10, Hudson Computing sold 74 Millennium laptop computers to Apex Publishers. At the date of this sale, Hudson's perpetual inventory records included the following cost layers for the Millennium laptops:

 

Purchase Date Quantity Unit Cost Total Cost
Apr. 9 61 $ 1,200 $ 73,200
May 1 45 $ 1,600   72,000
 
   
Total on hand 106     $ 145,200
 
   

 

Prepare journal entries to record the cost of the 74 Millennium laptops sold on May 10, assuming that Hudson Computing uses the (Round your intermediate and final answer to nearest dollar amount. Omit the "$" sign in your response):

 

a.

Specific identification method (57 of the units sold were purchased on April 9, and the remaining units were purchased on May 1).
b. Average-cost method.
c. FIFO method.
d. LIFO method.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 12:08 AM My Price 6.00

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