Beginning inventory Hemming Company reported the following current-year purchases and sales for its only product. Date January 1 Activities Units Acquired at Cost 255 units @ $12.20 = $ 3,111 Units sold at Retail January 10 Sales 210 units @ $42.20 March 14 March 15 Purchase Sales 410 units @ $17.20 July 30 Purchase October 5 sales October 26 Purchase Totals 455 units @ $22.20 = 7,052 10,101 350 units @ $42.20 430 units @ $42.20 155 units 1,275 units @ $27.20 4,216 $ 24,480 990 units 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 ined to andian insunatans and to ant of and cold in TEA