Required information [The following information applies to the questions displayed below] Hemming Company reported the following current-year purchases and sales for its only product. Required: Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods soid using FIFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LFO. 3. Compute the gross proft for FIFO method and LIFO method. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. itermine the costs assigned to ending inventory and to cost of goods sold using LFO. Required information [The following information applles to the questions displayed below] Hemming Company reported the following current-year purchoses and sales for its only product. 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 UFO. 3. Compute the gross profit for FIFO method and LIFO method Complete this question by entering your answers in the tabs below. Compute the gross profit for FIro method and UFO methed. Required information [The following information applies to the questions displayed below.] Hemming Company reported the following currentyear purchases and sales for its only product. iding inventory consists of 65 units from the March 14 purchase, 80 units from the July 30 purchase, and all 125 units from the tober 26 purchase. Using the specific identification method, calculate the following