Perpetual LIFO:

Goods Purchased

Cost of Goods Sold

Inventory Balance

Date

# of units

Cost per unit

# of units sold

Cost per unit

Cost of Goods Sold

# of units

Cost per unit

Inventory Balance

January 1

220

@

$10.80

=

$2,376.00

January 10

March 14

March 15

July 30

October 5

October 26

Totals

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. ActivitiesUnits Acquired at CostUnits Sold at Retail Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. s Sales Oct. 26 Purchase 220 units $10.802,376 330 units $15.805,214 420 units $20.808,736 120 unitse $25.803,096 190 units @ 40.80 280 units $40.80 390 units $40.80 Totals 1,090 units $19,422 860 units equired: emming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Compute the gross margin for FIFO method and LIFO method. & Answer is not complete. Complete this questions by entering your answers in the below tabs. Required 1Required 2 Required 3 ding inventory and to cost of aoods sold using FIFO