Prepare journal entries to record the cost of the 90 Millennium laptops sold on May 10, assuming

that Hudson Computing uses the following.

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.

c. FIFO method.

d. LIFO method.

e. Discuss briefly the financial reporting differences that may arise from choosing the FIFO

method over the LIFO method.