Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method.

Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO Cost of Goods Available for Sale b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost per unit Cost of Goods Available for Sale #of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit #of units Ending Inventory 200.1000 $ 2,000 | 150S 10.00 |$ 1,500 50 0.00 Beginning inventory Purchases March 14 July 30 October 26 5015.005,250300 S 15.004,500 45020.00,000 10002500 100 500 120 20.00 22025.00 490 1,500 2,400 5,500 S 9,900 30 S 20.00 8,600 2,500 Total 1,100 S 18,750 880 S 14,600 uses a periodic Inventory system. (a) Determine the costs assigned to ending Inventory and to cost of goods sold using FIFC. (b) Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO (c) Compute the gross margin for each method. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the gross margin for each method c) Gross Margin FIFO LIFO S 35,0035,200 Cost of goods sold13,85014,600 s 21,350 20,600 Gross margin