EXERCISE 8.2 Cost Flow Assumptions On May 10, Hudson Computing sold 90 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 Apr. 9 May 1 Total on hand Quantity Unit Cost 70 $1,500 30 $1,600 100 Total Cost $105,000 48,000 $153,000 Prepare journal entries to record the cost of the 90 Millennium laptops sold on May 10, assuming that Hudson Computing uses the a. Specific identification method (62 of the units sold were purchased on April 9, and the remain ing units were purchased on May 1). b. Average cost method. FIFO method. d. LIFO method. Discuss briefly the financial reporting cheferences that may arise from choosing the FIFO method over the LIFO method. C. e