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Hemmingway Co. reported the following current-year purchases and sales for its only product. Units Sold Unites Acquired 200 units @ $10.00 Date Activity Jan. 1

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Hemmingway Co. reported the following current-year purchases and sales for its only product. Units Sold Unites Acquired 200 units @ $10.00 Date Activity Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales 150 units 350 units @ $15.00 300 units 1. Determine the cost of ending inventory using FIFO. (5 pts) 2. Determine the cost of ending inventory using LIFO. (5 pts)

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