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 March 14 March 15 July 30 October 5 October 26 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals 200 units Units Acquired at Cost @ $10 Units Sold at Retail = $ 2,000 150 units @ $40 350 units @ $15 5,250 300 units @ $40 450 units @ $20 9,000 430 units @ $40 100 units 1,100 units @ $25. 2,500 $ 18,750 880 units. Hemming uses a periodic inventory system. Ending inventory consists of 45 units from the March 14 purchase, 75 units from th 30 purchase, and all 100 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 # of Date Activity # of units Cost Per Unit units Cost Per Unit COGS Ending Inventory Cost Per Ending Inventory Unit sold Units Cost January 1 Beginning Inventory 200 $ 0.00 $ 0 $ 0.00 $ 0 March 14 Purchase 350 $ 0.00 0 $ 0.00 0 July 30 Purchase 450 $ 0.00 0 $ 0.00 October 26 Purchase 100 69 $ 0.00 0 $ 0.00 c 1,100 0 69 0 $ 69 b) Gross Margin using Specific Identification Less: Equals: