please answer FIFO, LIFO, and gross profit!

Required information Use the following information for the Exercises 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. Exercise 5-10A (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P3 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 profit for FIFO method and LIFO method. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{2}{|c|}{ units } & \multirow[t]{2}{*}{ unit } & \multicolumn{2}{|c|}{ units sold } & \multirow[t]{2}{*}{ unit } & \multicolumn{3}{|c|}{ Sold } & \multicolumn{2}{|l|}{ units } & \multirow{2}{*}{\begin{tabular}{c} unit \\ $11.20 \end{tabular}} & \multicolumn{3}{|c|}{ Balance } \\ \hline January 1 & & & & & & & & & & 225 & at & & = & $ & 2,520.00 \\ \hline January 10 & & & & 150 & at & $41.00 & = & $ & 6,150.00 & 0 & & $11.20 & = & & \\ \hline \multirow{2}{*}{ March 14} & 340 & at & $16.00 & & & & & & & 75 & at & $11.20 & = & $ & 840.00 \\ \hline & & & & & & & & & & 340 & at & $16.00 & = & & 5,440.00 \\ \hline Total March 14 & & & & & & & & & & & & & & $ & 6,280.00 \\ \hline \multirow{2}{*}{ March 15} & & & & 75 & at & $11.20 & = & $ & 840.00 & 0 & at & $11.20 & = & & \\ \hline & & & a & 300 & at & $16.00 & = & & 4,800.00 & 40 & at & $16.00 & = & & 640.00 \\ \hline Total March 15 & & & a & & & & & $ & 5,640.00 & + & & & & $ & 640.00 \\ \hline \multirow{3}{*}{ July 30} & 425 & at & $21.00 & & & & & & & 0 & at & $11.20 & & & \\ \hline & & & & & & & o & & & 40 & at & $16.00 & = & & 640.00 \\ \hline & & & & & & & & & & 425 & at & $21.00 & = & & 8,925.00 \\ \hline Total July 30 & & & & & & & & & & & & & & $ & 9,565.00 \\ \hline \multirow{3}{*}{ October 5} & & & & 0 & at & $11.20 & = & $ & 0.00 & 0 & at & $11.20 & & 7 & \\ \hline & E & & & 40 & at & $16.00 & = & & 640.00 & 0 & at & $16.00 & & & \\ \hline & 18 & & & 425 & at & $21.00 & = & & 8,925.00 & 110 & at & $21.00 & = & & 2,310.00 \\ \hline Total October 5 & & & & & & & & $ & 9,565.00 & 7 & & & & $ & 2,310.00 \\ \hline \multirow{4}{*}{ October 26} & 126 & at & $26.00 & & & & & & & 0 & at & $11.20 & & & \\ \hline & & 2 & & & & & & & & 0 & at & $16.00 & & & \\ \hline & & 3 & & & & & & & & 110 & at & $21.00 & = & & 2,310.00 \\ \hline & & & & & & & & & & 126 & at & $26.00 & & & 3,276.00 \\ \hline \end{tabular} 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Compute the gross profit for FIFO method and LIFO method. Required information