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. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 220 units @ $10.80 = $ 2,376 Jan. 10 Sales 190 units @ $40.80 Mar. 14 Purchase 330 units @ $15.80 = 5,214 Mar. 15 Sales 280 units @ $40.80 July 30 Purchase 420 units @ $20.80 = 8,736 Oct. 5 Sales 390 units @ $40.80 Oct. 26 Purchase 120 units @ $25.80 = 3,096 Totals 1,090 units $ 19,422 860 units Required: Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 120 units from the October 26 purchase. Using the specific identification method, calculate the following.