Check my work Required information Part 1 of 2 [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. 2.5 points Units Acquired at Cost 240 units @ $11.60 = $ 2,784 Units Sold at Retail 180 units @ $41.60 370 units @ $16.60 = 6,142 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 330 units @ $41.60 eBook 440 units @ $21.60 = 9,504 415 units @ $41.60 Hint 140 units @ $26.60 = 1,190 units 3,724 $ 22,154 Print 925 units References 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 question by entering your answers in the tabs below