Check my work 3 Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 255 units @ $12.20 = $ 3,111 210 units @ $42.20 Part 2 of 2 410 units @ $17.20 = 7,052 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 455 units @ $22.20 = 10,101 350 units @ $42.20 430 units @ $42.20 = 0.75 polnts 155 units @ $27.20 1,275 units 4,216 $24,480 990 units Skipped Required: eBook Hemming uses a periodic inventory system. Assume that ending inventory is consists of 50 units from the March 14 purchase, 80 units from the July 30 purchase, and all 155 units from the October 26 purchase. Using the specific identification method, calculate the (a) the cost of goods sold and (b) the gross profit. Hint Complete this question by entering your answers in the tabs below. Print Cost of Goods Sold Gross Profit References Calculate the cost of goods sold. Cost of Goods Sold a) Cost of Goods sold using Specific Identification Available for Sale Unit Date Units Activity Cost Cost Jan. 1 Beginning Inventory 255 $ 12.20 Units Sold Unit Cost COGS Ending Inventory Ending Ending Inventory Unit Cost Inventory Units Cost $ 12.20 $ $ 12.20 $ 0 Check my work Required information Complete this question by entering your answers in the tabs below. Part 2 of 2 Cost of Goods Sold Gross Profit 0.75 points Calculate the cost of goods sold. Skipped a) Cost of Goods sold using Specific Identification Available for Sale Cost of Goods Sold Date Activity Units Unit Cost Units Sold Unit Cost COGS eBook 255 $ Jan. 1 Mar. 14 July 30 Oct. 26 Hint Beginning Inventory Purchase Purchase Purchase Ending Inventory Ending Ending Inventory Unit Cost Inventory Units Cost 0 $ 12.20 $ 0 $ 0.00 01 $ 0.00 $ 0.00 0 $ $ 12.2011 $ $ $ $ Lo 410 455 155 | 1,275 12.20 0.00 0.00 0.00 Print