Required information [The following information applies to the questions displayed below.J Hemming Co. reported the following current-year purchases and sales for its only product. Activities Units Acquired at Cost Units Sold at Retail 210 units $10.40 2,184 310 units@ $15.40 4,774 410 units@ $20.40. 8,364 110 units@ $25.40= 2,794 Date Beginning inventory Jan. 1 Jan.10 Sales Mar. 14 Purchase Mar.15 Sales July30 Purchase Oct. 5 Sales Oct.26 Purchase 170 units@ $40.40 270 units@ $40.40 380 units@ $40.40 Totals 1,040 units $18,116 820 units equired emming uses a perpetual inventory system. Required Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO 3. Compute the gross margin for FIFO method and LIFO method Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. es Perpetual FIFO Inventory Balance |Cost of Goods Cost per! unit er Inventory Cost perBalance #of units #ofunitsCost per #of units e Date sold unitSold unit 210 $10.40 2,184.0 January 1 January 10 Match 14