Exercise $8\mathrm{.}2($Algo$)$ Cost Flow Assumptions $($LO$8-2,$ LO$8-4)$

On May $10,$ Hudson Computing sold $115$ 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:

Required:

Prepare journal entries to record the cost of the $115$ Millennium laptops sold on May $10,$ assuming that Hudson Computing uses the

followinG

Exercise $8\mathrm{.}2($Algo$)$ Cost Flow Assumptions $($LO$8-2,$ LO$8-4)$

On May $10,$ Hudson Computing sold $115$ 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:

Required:

Prepare journal entries to record the cost of the $115$ Millennium laptops sold on May $10,$ assuming that Hudson Computing uses the

following:

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

a$.$ Specific identification method $(72$ of the units sold were purchased on April $9,$ and the remaining units sold were purchased on May

$.$

b$.$ Average$-$cost method.

c$.$ FIFO method.

d$.$ LIFO method.

Journal entry worksheet

$(3)4$

Record the cost of $115$ Millennium computers sold to Apex Publishers under

Specific identification method.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

a$.$ Specific identification method $(72$ of the units sold were purchased on April $9,$ and the remaining units sold were purchased on May

$.$

b$.$ Average$-$cost method.

c$.$ FIFO method.

d$.$ LIFO method.

Journal entry worksheet

$$

Record the cost of $115$ Millennium computers sold to Apex Publishers under

Specific identification method.