! Required information [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 January 10 Activities Beginning inventory Sales March 14 Purchase March 15 July 30 Sales October 5 October 26 Purchase Sales Purchase Totals Units Acquired at Cost 225 units @ $11.00 Units Sold at Retail $ 2,475 150 units @ $41.00 340 units @ $16.00 5,440 300 units @ $41.00 425 units $21.00 8,925 395 units @ $41.00 125 units 1,115 units $26.00 3,250 $ 20,090 845 units Ending inventory consists of 65 units from the March 14 purchase, 80 units from the July 30 purchase, and all 125 units from the October 26 purchase. Using the specific identification method, calculate the following. a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Date Cost Per # of units Cost Per Activity # of units COGS Unit sold Unit Ending Inventory Units Cost Per Unit Ending Inventory Cost January 1 Beginning Inventory 225 $ 0.00 $ 0 $ 0.00 $ 0 March 14 Purchase 340 $ 0.00 0 $ 0.00 0 July 30 Purchase 425 $ 0.00 $ 0.00 0 October 26 Purchase 125 $ 0.00 0.00 0 1,115 0 $ 0 0 $ 0 b) Gross Margin using Specific Identification Less: Equals: