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

Exercise $5-9($Algo$)$ Specific identification LO P$1$

Ending inventory consists of $45$ units from the March $14$ purchase, $75$ units from the July $30$ purchase, and all $105$ units from the October $26$ purchase. Using the specific identification method, calculate the following.

b$)$ Gross Margin using Specific Identification