mework i Saved Required information [The following information applies to the questions displayed below.] 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 5 Activities Beginning inventory Sales Purchase Sales Purchase Sales October 26 Purchase Totals Units Acquired at Cost 205 units @ $10.20 = 300 units @ $15.20 = 400 units @ $20.20 = 105 units @ $25.20 = 1,010 units Units sold at Retail $ 2,091 160 units @ $40.20 4,560 250 units @ $40.20 8,080 375 units @ $40.20 2,646 $ 17,377 785 units 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 profit for each method. al Periodio FIFO Help Save