! Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 295 units @ $13.80 $ 4,071 = 240 units @ $43.80 480 units @ $18.80 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase 9,024 420 units @ $43.80 495 units @ $23.80 11,781 465 units @ $43.80 195 units @ $28.80 1,465 units 5,616 $30, 492 Totals 1,125 units ammina uocanarnatural inventorevetom Cost per Cost per Date # of units # of units sold # of units Cost of Goods Sold unit Cost per unit unit Inventory Balance $ 4,071.00 January 1 295 @ $ 13.80 January 10 March 14 March 15 July 30 October 5 October 26 Totals $ 0.00 Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 295 @ $ 13.80 $ 4,071.00 January 1 January 10 March 14 March 15 July 30 October 5 October 26 Totals $ 0.00 bute the gross profit for FIF method method. FIFO: LIFO: Sales revenue Less: Cost of goods sold Gross profit