Check my work Required information (The following information applies to the questions displayed below.) Part 1 of 2 Hemming Co. reported the following current-year purchases and sales for its only product. 2.5 points Units Acquired at Cost 255 units @ $12.20 = $ 3, 111 Units Sold at Retail 210 units @ $42.20 410 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 350 units @ $42.20 455 units @ $22.20 = 10,101 eBook 430 units @ $42.20 = 155 units @ $27.20 1,275 units 4,216 $24,480 60 990 units Hint Print Required: Hemming uses a perpetual inventory system. References 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. Required 1 Required 2 Required 3 Check my work Required information VULLII LII LUULUuuuryric Uity HIVIILUTULULUULUI yuuu JUIU JITY III. Part 1 of 2 Perpetual FIFO: Goods Purchased Inventory Balance # of units Date Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per unit # of units 2.5 Cost per unit $ 12.20 = Inventory Balance $ 3,111. points January 1 255 @ January 10 March 14 eBook Hint March 15 Print July 30 References October 5 October 26