Required Information The following information applies to the questions displayed below! Hemming Co. reported the following current year purchases and sales for Rs only product Date Activities Jan. 1 Beginning inventory Jan. 18 Sales Mar.14 Purchase Mar.15 Sales July 30 Purchase Oct. 5 Sales Oct.26 Purchase Totals Units Acquired at Cost Units Sold at Retail 230 unitse $11.28 = 5 2,576 160 units@ $41.20 350 unitse $16.29 - 5,670 328 units@ $41.20 430 unitse $21.2e - 9,116 400 units@ $41.20 130 unitse $26.20 - 3,406 1,140 units $20,768 880 units 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. Perpetual FIFO Goods Purchased Cost per Cost of Goods Sold of units Cost per Cost of Goods Inventory Balance Cost per inventory