Hemming Co. reported the following current-year purchases and sales data for its only product.

Date	Activities	Units Acquired at Cost					Units sold at Retail
Jan. 1	Beginning Inventory	209 units	@ $ 9 =	$	1,881
Jan. 10	Sales						131 units	@ $ 40
Mar. 14	Purchase	345 units	@ $ 14 =		4,830
Mar. 15	Sales						282 units	@ $ 40
July 30	Purchase	444 units	@ $ 19 =		8,436
Oct. 5	Sales						417 units	@ $ 40
Oct. 26	Purchase	96 units	@ $ 24 =		2,304
	Totals	1,094 units		$	17,451		830 units

Hemming uses a periodic inventory system. (Omit the "$" sign in your response.)

Requirement 1:

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

	Ending Inventory	Cost of Goods Sold
FIFO	$	$

Requirement 2:

Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

	Ending Inventory	Cost of Goods Sold
LIFO	$	$

Requirement 3:

Compute the gross margin for FIFO and LIFO method.

FIFO Gross Margin	$
LIFO Gross Margin	$