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 Activities Beginning inventory 295 units Units Acquired at Cost $13.00- Units Sold at Retail $4,071 January 10 Sales 240 units March 14 March 15 Purchase Sales 480 unite $10.00- 9,024 420 units $43.90 #543.90 July 30 October 5 Purchase Sales 495 unite $23.80- 11,781 465 units $43.80 October 26 Purchase Totals 195 unite 1,465 units $28.00- 5,616 $ 30,492 1,125 units Ending inventory consists of 60 units from the March 14 purchase, 85 units from the July 30 purchase, and all 195 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 Cost Per COGS sold i Unit Ending Inventory Units Cost Per Unit Ending Inventory Cost ences January 11 Beginning Inventory 295 $ 000 $ o $ 000 $ March 14 Purchase 480 $ 0.00 $ 0.00 July 30 Purchase 495 $ 0.00 0 $ 000 October 26 Purchase 195 $ 0.00 $ 0.00 1,465 $ 0 0 $ b) Gross Margin using Specific Identification Less Equals