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 October 26 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals Units Acquired at Cost 295 units @ $13.80= $ 4,071 480 units @ $18.80 = 9,024 495 units @ $23.80 = 11,781 195 units 1,465 units @ $28.80 5,616 $ 30,492 Required: lemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Compute the gross profit for FIFO method and LIFO method