Hemming Company reported the following current-year purchases and sales for its only product. Date Activities January 1 Beginning inventory January 10 Sales March 14 Purchase March 15 July 30 October 5 October 26 Sales Purchase Sales. Purchase Totals 200 units Units Acquired at Cost $10 Units Sold at Retail $ 2,000 150 units @$40 350 units @ $15 5,250 300 units $40 450 units $20 9,000 430 unite @ $40 100 units 1,100 units $25 2,500 $ 18,750 880 units Hemming uses a periodic inventory system. Ending inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 100 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 Ending Inventory # of Date Activity # of units Cost Per Unit Cost Per units COGS Unit sold Ending Inventory Units Cost Per Unit Ending Inventory Cost January 1 Beginning Inventory 200 $ 10.00 $10.00 $ 0 $ 10.00 $ 0 March 14 Purchase 350 $15.00 $ 15.00 0 150 $ 15.00 2,250 July 30 Purchase 450 $ 20.00 $ 20.00 0 $ 20.00 0 October 26 Purchase 100 $25.00 880 $ 25.00 22,000 $ 25.00 0 1,100 880 $ 22,000 150 $ 2,250 b) Gross Margin using Specific Identification Less: Equals: