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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	=	10,509
October 5	Sales						440	units	@ $42.60
October 26	Purchase	165	units	@ $27.60	=	4,554
	Totals	1,325	units			$ 25,970	1,035	units

Required:

Hemming uses a perpetual inventory system.

Determine the costs assigned to ending inventory and to the cost of goods sold using FIFO.

Determine the costs assigned to ending inventory and to the cost of goods sold using LIFO.

Compute the gross profit for the FIFO method and LIFO method.

It has 3 required , FIFO, LIFO and Gross Profit for FIFO Method and LIFO method