0 Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product te an. 1 Beginning inventory an. 18 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. S Sales Oct. 26 Purchase Activities its Sold at Retail 188 units $48.60 268 units $48.66e 488 units $40.60 Units Acquired a t Cos 215 units $18.682,279 320 units @ $15.68 4,992 415 units @ $20.6e 8,549 115 unitse $25.682,944 Totals 1,065 units $18,764 840 units Exercise 5-7 Periodic: Inventory costing meth@ds-FIFO and LIFO LO P1 Required Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method Complete this question by entering your answers in the tabs below. PRY 30, 3EE score.answer> earch 4 5 Required information Complete this question by entering your answers in the tabs below. Required A Required BRequired C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. a) Periodilc FIFO Cost of Goods Available for SatelGost of Goods Sold #of unitseos:iter Available or Cost of Goods Available for Sale Ending Inventory Cost of Goods # of units | Cost per | costper-Cost of #Of units Cost per Ending nofunits cost inventory unit Inventory #ofinits Goods Sold in ending Cost per Ending Goods Sold unit Sale Beginning inventory Purchases: March 14 July 30 October 26 Total Required B > Required information Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. b) Periodic LIFO Cost of Goods Available for Sale st of Goods Sold Ending Inventory | # of units inventory Cost of Goods | # of units | Cost per i Cost of Goods Sold in endingt Ending Cost per Available forsold unit Sale unit per unit Inventory Beginning inventory Purchases: March 14 July 30 October 26 Total Required A Required C Required information Hemming uses a perioaic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method. Complete this question by entering your answers in the tabs below. Required A Required BRequired C Compute the gross margin for each method. c) Gross Margin FIFO LIFO