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. 19 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals Units Acquired at Cost 288 units @ $13.20 - $ 3,696 460 units @ $18.20 8,372 480 units $23.20. 11, 136 240 units @ $43.20 410 units @ $43.20 450 units @ $43.2e 180 units $28.20 1,480 units 5,076 $28,280 1,100 units Required: Hemming uses a perpetual Inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. 3. Compute the gross margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. Required: Required 2 Required 3 Compute the gross margin for FIFO method and LIFO method. FIFO LIFO Sales revenue Less Cost of goods sod Gross margin