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Exercise 6-7 Perpetual: inventory costing methods-FlFo and LIFO Lo P1 IThe following information applies to the questions displayed below.j Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 180 units a $13.20 2,376 170 units (a $43.20 Jan. 10 Sales 330 units a $18.20 6,006 Mar. 14 Purchase 220 units (a $43.20 Mar. 15 Sales units $23.20 July 30 Purchase 480 11136 Oct. 5 Sales 220 units (a $43.20 units $28.20 Oct. 26 Purchase 680 19176 $38,694 610 units Totals 1,670 units Required: Hemming uses a perpetual inventory system