mework Homming Co. reported the following current your purchases and sales for its only product Date Activities Units Acquired at cost hits sold at Retai inventory 210 units Jan. 10 Sales 170 units 540.40 Mar. 14 Purchase 310 units $15.40 Mar. 15 Sales Jan. 1 Beginning $10.45 2.184 270 Sts 540.40 July30 Purchase 410 unit $20.40 Oct. 5 Sales 380 units 540.40 Oct. 26 Purchase Totals 110 units 525.40 1.040 units 2,794 $18.116 820 units Required Hemming Uses a perpetual inventory system 1. Determine the costs assigned to ending inventory and to cost of goods sold in PFO 2. Determine the costs assigned to ending inventory and to cost of goods sold in LIFO 2. Compute the gross margin for FIFO method and UFO method Complete this questions by entering your answers in the below tabs. Required Required Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2 3 Perpetual FIFO Goods Purchased Cost # of Date per units unt January 1 January 10 March 14 Cost of Goods Sold Inventory lance # of units Cost Cost Cost of per Inventory sold unit Goods Sold of units per Balance $ 10.40 2.184.00 2101 March 15 30 October October 26 Totats 50.00 05 Homework Hemming Co. reported the following current year purchases and sales for its only product 2 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Units Acquired at Cost 210 units $10.405 2.184 170 units 340.40 Mar.14 Purchase 310 units 15.0 - 4,776 270 units $40.40 Mar.15 Sales BOOK 410 units s20.40-8.364 July 30 Purchase Oct. 5 Sales 380 units $40.40 Hint Oct.26 Purchase 110 units 1.040 units $25.40 2,794 $18.116 820 units Print Totals bferences Required Hemming uses a perpetual inventory system 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO 2. Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. 3. Compute the gross margin for FIFO method and UFO method Complete this questions by entering your answers in the below tabs Required Requred Required Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Goods Purchased Cost of Goods Sold Inventory Balance ot Cost # of units Cost Cost Date Cost of Inventory units per sold por of units per Goods Sold unit unt Balance $ January 1 210 10.40 2.134 00 January 10 March 14 unit March 15 July 30 October 5 October 26 0.00 Totals Renuired Required 3 > Required information [The following information applies to the questions displayed below) Hemming Co. reported the following current year purchases and sales for its only product Date Units sold at Activities Units Acquired at Cost Retail Jan. 1 Beginning 210 units Inventory $10.40 =$ 2,184 Jan. 10 Sales 170 units $40.40 Mar.14 Purchase 310 units $15.40 4,774 Mar.15 Sales 270 units $40.40 July 30 Purchase 410 units 8,364 $20.40 Oct. 5 Sales 380 units $40.40 e Oct. 26 Purchase 110 units 2,794 $25.40 Totals 1,040 units $18,116 820 units Required Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. 3. Compute the gross margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. 1 Required Required Required 2 Compute the gross margin for FIFO method and LIFO method. FIFO: LIFO: Sales revenue Less: Cost of goods sold Gross margin