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 March 15 July 301 October 5 October 26 Purchase Sales Purchase Sales Purchase Totals 205 units Units Acquired at Cost $10.20- Units Sold at Retai $2,091 160 units 540.20 300 units $15.20- 4,560 250 units $40.20 400 units $20.20 3,000 375 units $40.20 105 units 1,010 units $25.20 2,646 $17,377 785 units Ending inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 105 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 Activity # of units: Cost Per Unit #of units sold Cost Per Unit COGS Ending Inventory Units Cost Per Unit Ending Inventory Cost January 11 Beginning Inventory 205 $ 10.20 205 $ 10.20 $ 2,091 $ 10.20 $ 0 March 14 Purchase 300 250 S 0.00 0 $ 0.00 0 July 30 Purchase 400 375 $ 0.00 0 $ 0.00 0 October 26 Purchase 105 785 $ 0.00 0 $ 0.00 0 1,010 1,615 $ 2,091 $ 0 b) Gross Margin using Specific Identification Less Equals