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please help with blanks ! Perpetual FIFO Cost of Goods Sold Cost per #of units sold unit Cost of Goods Sold Goods Purchased Cost per

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Perpetual FIFO Cost of Goods Sold Cost per #of units sold unit Cost of Goods Sold Goods Purchased Cost per #of units unit Date Inventory Balance Cost per Inventory # of units unit Balance 240 at $ 11.60 - $ 2,784.00 January 1 January 10 180 at $ 11.60 $ 2,088.00 60 at $ 11.60 = $ 696.00 370 at $ 16.60 March 14 at $11.60 at $ 16.60 Total March 14 March 15 Total March 15 440 at $ 21.60 July 30 at $ 21.60 Total July 30 October 5 Total October October 26 Totals $ 2088.00 Required 2 > Saved 0 Required information Use the following information for the Exercises 8-10 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. Date Activities Units Acquired at Cost Units sold at Retail January 1 Beginning inventory 240 units @ $11.60 $ 2,784 January 20 Sales 180 units @ $41.60 March 14 Purchase 378 units $16.68 6,142 March 15 Sales 330 units @ $41.60 July 30 Purchase 440 units @ $21.60 9,584 October 5 Sales 415 units @ $41.60 October 26 Purchase 148 units @ $26.60 - 3,724 Totals 1,198 units $ 22,154 925 units Exercise 5-8 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO. Perpetual FIFO Required information Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Date Goods Purchased Cost per #of units unit Perpetual LIFO Cost of Goods Sold #of units Cost of Goods sold unit Sold Cost per Inventory Balance # of units Inventory unit Balance Cost per January 1 January 10 March 14 Total March 14 March 15 Total March 15 July 30 Total July 30 October 5 Total October 5 October 26 Totals 0.00

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