Ces Required information [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Activities Date January 1 Beginning inventory January 10 Sales March 14 Purchase March 15 July 30 Sales Purchase October 5: Sales October 26 Purchase Totals Units Acquired at Cost Units Sold at Retail 225 units $11.00- $ 2,475 150 units $41.00 340 units $16.00 5,440 300 units $41.00 425 units $21.00 - 8,925 395 units $41.00 125 units $26.00 - 3,250 1,115 units $ 20,090 845 units 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 profit for each method.