Required information [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchase and sales for its only product Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 Sales Purchase Sales Purchase Sales Activities Units Acquired at Cost Beginning inventory Units Sold at Retail 300 units $14.00= $ 4,200 250 units $44.00 520 units @$19.00 9,880 460 units @$44.00 500 units @ $24.00 = 12,000 480 units $44.00 Purchase Totals 200 units 1,520 units @$29.00 5,800 $31,880 1,190 units Ending Inventory consists of 50 units from the March 14 purchase, 80 units from the July 30 purchase, and all 200 units from the October 26 purchase. Using the specific identification method, calculate the following ost of Goods Sold using Specific Identification Available for Sale Date Activity # of units Unit Cost Per # of units soldi uary 1 Beginning Inventory 300 ch 14 Purchase 520 30 Purchase 500 ober 26 Purchase 200 1,520 Cost of Goods Sold Cost Per Unit Ending Inventory COGS Ending Inventory Units Cost Per Unit Ending Invent Cost b) Gross Margin using Specific Identification Less: Equals: +