150 S 40 Mar. 14 Purchase 350 units @ $15 = 5,250 300 units @ $40 Mar. 15 Sales July 30 Purchase Oct. 5 Sales 450 units @ $20 = 9,000 430 units @ $40 Oct. 26 Purchase 100 units @ $25 = 2,500 Totals 1,100 units $18,750 880 units Page 246 Required Hemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (6) LIFO. (c) Compute the gross margin for each method. (Round amounts to cents.) 150 S 40 Mar. 14 Purchase 350 units @ $15 = 5,250 300 units @ $40 Mar. 15 Sales July 30 Purchase Oct. 5 Sales 450 units @ $20 = 9,000 430 units @ $40 Oct. 26 Purchase 100 units @ $25 = 2,500 Totals 1,100 units $18,750 880 units Page 246 Required Hemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (6) LIFO. (c) Compute the gross margin for each method. (Round amounts to cents.)