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 @ $10.89 $ 2,376 Jan. 10 Sales 190 units $40.80 Mar. 14 Purchase 330 units @ $15.80 5,214 Mar. 15 Sales 200 units @ $40.80 July 30 Purchase 420 units @ $20.80 3,736 Oct. 5 Sales 390 units $40.80 Oct. 26 Purchase 120 units @ $25.99 3,096 Totals 1,098 units $19,422 360 units FIFO: LIFO: Sales revenue Less: Cost of goods sold Gross margin Perpetual FIFO: yoods sold using FIFO. Date Goods Purchased #of units unit Cost per Cost of Goods Sold # of units Cost of Goods sold unit Sold Cost per January 1 January 10 Cost per Inventory Balance # of units Inventory unit Balance 220 @ $ 10.80 = $ 2.376.00 March 14 + March 15 July 30 October 5 October 26 Totals 5 0.00 Perpetual LIFO: Goods Purchased of Cost per Cost of Goods Sold # of units Cost of Goods sold unit Sold Date Cost per units Cost per Inventory Balance # of units Inventory unit Balance $ 10.80 = $ 2,376.00 January 1 January 10 220 @ March 14 March 15 July 30 October 5 October 26 Totals s 0 00