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Required information Use the following information for the Exercises below [The following information applies to the questions displayed below. Hemming Co. reported the following current-year purchases and sales for its only product. Activities Units Sold at Retail 160 units $41.20 320 units $41.20 400 units $41.20 Units Acquired at Cost Date Jan. 1 Beginning inventory Jan.10 Sales Mar.14 Purchase Mar.15 Sales July30 Purchase Oct. 5 Sales Oct.26 Purchase 230 units 350 units 430 units 130 units $11.20$ 2,576 $16.205,670 $21.209,116 $26.203,406 Totals 1,140 units $20,768 880 units Exercise 5-9A Periodic: Inventory costing system LO P3 Required 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 margin for each methoo