Hemming Company reported the following current-year purchases and sales for its only product. Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 Sales Purchase Sales Purchase Sales Purchase Totals Activities Beginning inventory Units Acquired at Cost 300 units @ $14.00 Units Sold at Retail = $ 4,200 250 units @ $44.00 520 units @ $19.00 9,880 460 units @ $44.00 500 units @ $24.00 12,000 480 units @ $44.00 200 units 1,520 units @ $29.00 5,800 $ 31,880 1,190 units Ending inventory consists of 50 units from the March 14 purchase, 80 units from the July 30 purchase, and all 200 units from the October 26 purchase. Using the specific identification method, calculate the following. a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Date Cost Per # of units Cost Per Activity # of units Unit sold Unit January 1 Beginning Inventory 300 March 14 Purchase 520 July 30 Purchase 500 October 26 Purchase 200 1,520 b) Gross Margin using Specific Identification Less: Equals: Ending Inventory COGS Ending Inventory Units Cost Per Unit Ending Inventory Cost