Please help me answer the table for all 3 parts of the question.
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. Units Sold at Retail Units Acquired at Cost 275 units $13.00 = $ 3,575 230 units @ $43.ee Date Activities Jan. 1 Beginning inventory Jan. 1e Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 450 units 475 units $18.60 $23.80 = = 8,182 10,925 400 units @ $43.ee 455 units @ $43.ee = 175 units @ $28.80 1,375 units 4989 $27,500 1,885 units 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 margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date # of Cost per # of units Cost per Cost of Goods # of units Cost per units Inventory unit sold unit Sold Forums unit Balance January 1 275 @ $13.00 - $ 3.575.00 January 10 March 14 March 15 July 30 October 5 October 28 $ 0.00 Required 1 Required 2 > 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. Units Sold at Retail Units Acquired at Cost 275 units @ $13.00 = $ 3,575 230 units @ $43.ee 450 units @ $18.80 = 8,182 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 480 units @ $43.ee 475 units $23.80 = 10,925 455 units @ $43.ee 175 units @ $28.80 1.375 units = 4,989 $27,500 1,885 units 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 margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory Date January 1 275 @ $ 13.00 = $ 3.575.00 January 10 March 14 March 15 July 30 October 5 October 28 0.00 Required 1 Required 3 > 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. Units Acquired at Cost 275 units $13.00 = $ 3,575 Units Sold at Retail 230 units @ $43.ee Date Activities Jan. 1 Beginning Inventory Jan. 1e Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase 450 units @ $18.60 = 8,182 475 units @ $23.80 = 10,925 4e0 units @ $43.ee 455 units @ $43.00 = 175 units @ $28.80 1,375 units 4,989 $27,500 Totals 1.085 units 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 margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Compute the gross margin for FIFO method and LIFO method. FIFO: LIFO: Sales revenue Less: Cost of goods sold Gross margin
