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. Date Activities Jan. 1 Beginning Units Acquired at Cost Units Sold at Retail 275 unitse $13.00- 3,575 458 unitse $18.00 8,180 475 unitse $23.00-10,925 3an.10 Sales 230 unitse $43.00 400 unitse $43.00 455 units $43.00 Mar.14 Purchase Mar.15 Sales July30 Purchase Oct. 5 Sales Oct.26 Purchase 175unitse $28.08- 4,989 1,375 units Totals $27,500 1,085 units Required Hemming uses a perpetual inventory system 1. Determine the coss 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. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Next Et 144