Required information [The following information applies to the questions displayed below] Hemming Company reported the following curtent-year purchases and sabes for its only product. Henming uses a periodic inventory systerm. (in) Determine the costs assigned to ending inventory and to cost of goods soid using FIFO; (b) Determine the costs assigned to ending inventory and to cost of goods sold using LiFO. (c) Compute the gross profit for each method (0) tretermane the cosis assignea to ending imventory and to cost of goces sold using rit- (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method. I MARinninn inverinn 1. Required information b) Periodic LIFO