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. Hemming uses periodic inventory system. (a) Determine the costs assigned to ending inventory and to' cost of goods sold using FFFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LFO. (c) Compute the gross profit for each method. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LFO (c) Compute the gross profit for each method