1 art 12 Required information The following information apples to the questions displayed below] Hemming Co. reported the following current-year purchases and sales for its only product bato Activities Units Acquired at Coat Units sold at Retail Jan. 1 beginning inventory 235 unite . $11.40 - $ 2,679 Jan 10 Sales 170 to $41.40 Mar. 14 Purchase 360 units $16.40 - 5,904 Mar.15 Sales 290 unita . $41.40 July 30 Purchase 435 units $21.40 - 9.309 Oct. 5 Sale 410 units 541.40 Oct. 26 Purchase 125 units $26.40 - 3.564 Totals 1,165 units 521.456 870 unita -16 its Required Hemming uses a perpetual inventory system 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO 3. Compute the gross margin for FIFO method and LIFO method Complete this questions by entering your answers in the below tabs. Recured Required 2 Reduired Determine the costs assigned to ending inventary and to cost of goods sold using Piro. Perpetual FIFO Goods Purchased Cestof Goods Boid #of Cost per of units Cost per cost of Goods unita ent sold Sold Die Suy1 January 10 Inventory balance of units Cost per Inventory un Balance 235 $ 11,40 = $ 2,679.00 ME Required Information 1 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 3. Compute the gross margin for FIFO method and LIFO method. Part 1 of 2 Complete this questions by entering your answers in the below tabs. 416 DO Required 1 Required 2 Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per of units Cost per Cost of Goods Cost per units Inventory unit sold of units unit Sold unit Balance January 235 $11.40 $ 2,679.00 Jorway 10 March 14 March 15 July 30 October Mc