Hemming Company reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail January 1 Beginning inventory 285 units @ $13.40 = $ 3,819 January 10 Sales 250 units @ $43.40 March 14 Purchase 470 units @ $18.40 = 8,648 March 15 Sales 400 units @ $43.40 July 30 Purchase 485 units @ $23.40 = 11,349 October 5 Sales 460 units @ $43.40 October 26 Purchase 185 units @ $28.40 = 5,254 Totals 1,425 units $ 29,070 1,110 units Exercise 5-8 (Algo) Perpetual: Inventory costing methodsFIFO and LIFO LO P1 Required: Hemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold usin