Required information Skip to question [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 265 units @ $12.60 = $ 3,339 January 10 Sales 225 units @ $42.60 March 14 Purchase 430 units @ $17.60 = 7,568 March 15 Sales 370 units @ $42.60 July 30 Purchase 465 units @ $22.60