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! Required information [ The following information applies to the questions displayed below. ] Hemming Company reported the following current - year purchases and sales
Required information
The following information applies to the questions displayed below.
Hemming Company reported the following currentyear purchases and sales for its only product.
Hemming uses a periodic inventory system. Ending inventory consists of units from the March purchase, units from the July
purchase, and all units from the October purchase. Using the specific identification method, calculate the following.
a Cost of Goods Sold using Specific Identification
b Gross Margin using Specific Identification
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