Midterm

$1.$

Syred

$1$

Required information

Use the following Information for the Exerclses below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Hemming Company reported the following current$-$year purchases and sales for its only product.

$\backslash$table$[[,],[$mindery $1,$LEEgINUD$],[$January $10,$sales$],[$March $14,$Fink Enase$],[$Mareh $15,$Ampratig$],[$ordaber $5,$Sales$],[$Oac zaloit ving,Puolhase$],[,$Tiatals$]]$

Exercise $5-8($Algo$)$ Periodic: Inventory costing LO P$1$

Hemming uses a periadic invertory system.

$($a$)$ Determine the costs assigned to enaling laventory and $20$ cost of goods sold using FIFO.

$($b$)$ Determine the costs assigned to ending inventary and to cost of goods solo using LIFO

$($c$)$ Compute the gross promt for vame mechod

a$)$ Periadic FIFO

Cosit af Grouls Available for Sale

Cosit af Goodls Sold