Required information Saved 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 January 1 Activities Beginning inventory January 10 Sales March 14 March 15 July 30 October 5 October 26 Purchase Sales Purchase Sales Purchase Totals Help Save & Exit Submit 230 units Units Acquired at Cost $11.20 Units Sold at Retail $ 2,576 160 units $41.20 350 units @ $16.20 5,670 320 units $41.20 430 units @$21.20 9,116 400 units $41.20 130 units 1,140 units @$26.20 3,406 $ 20,768 880 units Exercise 5-8 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: Hemming uses a perpetual inventory system.