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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. Units Acquired at Cint 250 units $12.40 Units Sold at Metall $1,224 7,300 215 units 2.40 Date January 1 January 10 March 14 Narch 15 July 30 October October 26 420 unit $17.40 Activitin Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals units 12.40 460 units 122.00 10,14 435 units 854240 2.40 160 units 1.300 units 5.25,220 1.020 on its Hemming uses a petlodic 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. Periodic FIFO Cost of Goods Sold Ending in Cost of Goods Available for Sale myr rrntory system Determine the costed to ending Inventory and to cost of goods sold ag HEO Determine the costs assigned to ending inventory and to cost of goods sold using UFO Compute the soft for each method Fermer Case do not out Center Cost of Good Av for at 2005 120S 3224 Cast of Goods 9 of Couter conto de ons Catinding 12005 320 gong Purches M 0 2015 os 170 220 2760 1760 20 1 24 20 20 Cider 10304 4154 25 230 1201 100 200 5 5 1300 300 1110 Peter Custooded Ginger Cost of Goods Are forte Cost of Goode sotuit Cost pecuni Avable for Sale of units sold cost per unit Cost of Goods Sold so Content inding mender inven 200 5 1240 3224 Check my won Required information $ 5 22405 27 5 260 1380 1300 211.2011 640 1410 200 PLIFO Cost of Goods Sold Cost at Goods Available for sale Cost of Goods # of units Cost per unit Available for Sale of units sold Cost per unit Cost of Goods Sold of units in en Coat per ventory Ending Inventory 2005 12:40 3.220 Beginning in Purchase March 11 Juy0 October 1005 LODS 1605 1300 17:40 22.00 27 40 7.300 10300 5 25220 FO LIFO