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

Required information The following information applies to the questions displayed below Hemming Co reported the following current year purchases and sales for its anly product Activities Units Acquired at Cost Date Jan. 1 Beginning inventory an. 10 Sales Mar.14 Purchase Mar.15 Sales July 38 Purchase Oct. S Sales Oct.26 Purchase 265 units 312.6-5 3,339 430 units$17.67,56 465 units $22.6-18,589 165 unit: 27.64,554 Units Sold at Retail 225 units $42.68 37e units $42.68 440 units $42.6a Totals 1,325 units 525,97 1,035 units 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 questions by entering your answers in the below tabs. Required 1Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO Perpetual FIEO: ased t of Inventory Balance Cost of Goods Sold #of Cost per unit #of units Cost per unit | # of units Cost per Inventory Date sold unit January 1 January 10 March 14 265 S 12 603,339.00