Required information The following information applies to the questions displayed below Hemming Co, reported the folowing current year purchases and sales for only product s Sold at Retail an, 1 beginning inventory eunits 512 60-53,224 2ns units s.4 42.40 2 units $170 177,38 Mar.15 Sales uly 30 Purchase Oct. 5 Sales Oct.26 Purchase 80units sa2.40 22.40-10,304 125units s42.4 160units 27.44,38 Tetals Required Hemming uses a perpetusl 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 Pe