6 Part 3 of 3 6.66 points Skipped eBook 100 Hint Ask Print References 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 Activities Beginning inventory Sales Purchase Sales Purchase Sales Units Acquired at Cost @ $11.80 = @$16.80 = @ $21.80 = @ $26.80 Purchase Totals a) Cost of Goods Sold using Specific Identification Available for Sale Date January 1 March 14 July 30 October 26 Activity Beginning Inventory Purchase Less: Equals: Purchase Purchase b) Gross Margin using Specific Identification Ending inventory consists of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 145 units from the October 26 purchase. Using the specific identification method, calculate the following. # of units 245 units 245 390 445 145 1,225 390 units 445 units 145 units 1,225 units Cost Per # of units Unit sold $ 2,891 6,552 9,701 3,886 $ 23,030 Cost of Goods Sold Cost Per Unit $ $ $ $ Units Sold at Retail 190 units 350 units 430 units Cost of Goods Sold 0.00 $ 0.00 0.00 0.00 $ 970 units 0 0 0 0 0 Ending Inventory Units @$41.80 @$41.80 @$41.80 0 Ending Inventory Cost Per Unit $ $ $ $ Ending Inventory Cost 0.00 $ 0.00 0.00 0.00 $ 0 0 0 0 0

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