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. Tequired: temming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 1. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 1. Compute the gross profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Determine the costs assigned to ending inventory and to cost of goods sold using FiFo. Hemming Lompany reportea tne tollowing current-year purcnases and saies ior its onty proouct. ding inventory consists of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 145 units from the ztober 26 purchase. Using the specific identification method, calculate the following