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 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar 15 Sales July 30 Purchase 5 Sales Oct. 26 Purchase Totals Units Acquired at Cost 200 units 510 $ 2,000 350 units $15 5,250 150 units $40 Oct. 300 units 450 units$20 9.000 40 units 100 units 1,100 units @ $25 $40 2.500 $18,750 Sunits Required: Hemming uses a perlodic Inventory system (a) Determine the costs assigned to ending Inventory and cost of goods sold using FIFO. (b) Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method a) Periodic FIFO Cost of Goods Sold Cont of Goods Available for Sale Cost per Cost of Goods of units Available for unit Sale #of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units Cost in ending Ending per unit Inventory Inventory Required information a) Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Cost per # of units Available for unit Sale Ending Inventory of units Cost in ending Ending per unit Inventory Inventory Cost of Goods Sold # of units Cost per sold unit Beginning inventory Purchases March 14 July 30 October 26 Total Cost of Goods Sold Cost of Goods Available for Sale Cost per Cost of Goods # of units Available for unit Sale b) Periodic LIFO Ending Inventory # of units in ending Cost Ending inventory per unit Inventory Cost of Goods Sold #of units Cost per sold unit Beginning inventory Purchases March 14 July 30 October 26 Total FIFO LIFO c) Gross Profit 4 of 8 Score answer >