! 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. Units Sold at Retail Units Acquired at Cost 290 units @ $13.60 $ 3,944 260 units @ $43.60 500 units @ $18.60 9,300 Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals 430 units @ $43.60 490 units @ $23.60 11,564 470 units @ $43.60 @ $28.60 190 units 1,470 units 5,434 $ 30,242 1,160 units Ending inventory consists of 40 units from the March 14 purchase, 80 units from the July 30 purchase, and all 190 units from the October 26 purchase. Using the specific identification method, calculate the following. Cost of Goods Sold a) Cost of Goods Sold using Specific Identification Available for Sale Date Activity # of units Ending Inventory Cost Per Unit # of units sold Cost Per Unit COGS Ending Inventory Units Cost Per Unit Ending Inventory Cost 290 $ 0.00 $ 0 $ 0 500 $ 0.00 0 $ January 1 March 14 July 30 October 26 0 Beginning Inventory Purchase Purchase Purchase 0.00 $ 0.00 0.00 490 0 $ 0 0 $ 0.00 0 190 1,470 $ 0 $ 0 b) Gross Margin using Specific Identification Less Equals