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. Units Acquired at Cost 210 units @ $10.40 - $ 2,184 Units Sold at Retail 170 units e $40.40 310 units @ $15.40 - 4,774 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar.14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 270 units @ $40.40 410 units @ $20.40 - 8,364 380 units @ $40.40 110 units @ $25.40 = 1,040 units 2,794 $18, 116 820 units 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 LIFO. 3. Compute the gross margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sald of Inventory Balance of units Cost per inventory Date