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

Date	Activities	Units Acquired at Cost	Units Sold at Retail
Jan 1	Beginning Inventory	200 units @ $10= 2,000
Jan 10	Sales		150 units @$40.00
March 14	Purchase	350 units @$15= 5,250
March 15	Sales		300 units @$40.00
July 30	Purchase	450 units @$20= 9,000
Oct 5	Sales		430 units @$40.00
Oct 26	Purchase	100 units @$25= 2,500
	Totals	1,100 units = $18,750	880 units

Hemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (b) LIFO. Compute the gross margin for each method. (Round amounts to cents.)