mer Corporation has provided the following Information about one of its leptop computers Number Transaction of Unita Coet per Unit 850 Beginning Inventory 150 Purchase 250 2. 950 1,050 %24 $ 1,100 Purchase 350 E5 Purchase 225 the year, Lauer sold 875 laptop computers. as ending inventory using the FIFO cost flow assumption? tiple Choice $85,000. $109,500. $110,000. $105,000.

On May 10, Hudson Computing sold 90 Millennium laptop computers to Apex Publishers. At thedate of this sale, Hudson's perpetual inventory records included the following cost layers for theMillennium laptops: Purchase DateApr. 9May 1Total on hand Quantity Unit Cost 70 30 $1,500$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, assumethat Hudson Computing uses the:a. Specific identification method (62 of the units sold were purchased on April 9, and the tmaining 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 FlFOmethod over the LIFO method.

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