Heading 2 1 Heading 3 1 Head Paragraph Styles Question 5 (20 min, 15 points) On January 22, 2015, Dobbins Supply, Inc., sold 700 toner cartridges to Foster Office Fitters. Immediately prior to this sale, Dobbin's Supply's perpetual inventory records for these units included the following cost layers: Purchase Date Dec 12, 2014 Jan 16 2015 Total on Hand Quantity 400 1.200 1,600 Unit Cost $20 22 Total Cost $8,000 26,400 $34,400 Instructions Prepare a journal entry to record the Cost of Goods Sold relating to the January 22 sale of 700 toner cartridges, assuming that Dobbins supply uses: 1. Specific identification (300 of the units sold had been purchased on December 12, and the remaining 400 had been purchased on January 16). 2. Average Cost 3. FIFO 4. LIFO