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. Activities Date Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Units Acquired at Cost 265 units $12.60 3,339 430 units $17.60 7,568 465 units $22.6010,509 165 units $27.60,554 Units Sold at Retail 225 units $42.60 370 units $42.60 440 units $42.60 Totals 1,325 units $25,970 1,035 units Required: Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods | Cost per Available for sold per unit # of units Cost per Ending in ending t nventory # of units Cost per Cost of # of units unit Goods Sold inventory Sale Beginning inventory Purchases: March 14 July 30 October 26 Total 0 Required A Required B >