points 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 eBook Units Required at Coat 205 units $10.20 - $2,091 Units Bold at Retail 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 $15.20 - Hint 300 units 400 units 4,560 8,080 $20.20 - 160 units 250 units 375 units $40.20 $40.20 $40.20 105 units . $25.20 - 1,010 units Print 785 units References 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. Check points 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 Unit Reguired at Cost 205 unit $10.20 - 2,091 160 units10.20 po Jan. 1 Meginning inventory Jan. 10 sales Mar.14 Purchase MAE.15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 250 units $40.20 375 units $40.20 2.046 References 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.