Required information (The following information applies to the questions displayed below) Hemraing Company reported the following current-year purchases and sales for its only product. Required: Hemming uses a perpetual inventory system. 1. Detormine the costs assigned to ending inventory and to cost of goods sold using FFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LifO. 3. Compute the gross profit for FFO method and LFFO method. Complete this question by entering your answers in the tabs below. Aqequprell 3. Compute the grose piont iat fro methed and Lifo methed Campiete this suestion try enterias ywar answers in the talis belem. Reejuired: Hemiting ises a perpetusi inventory tystem. 1. Determine the costs assigned to ending inventory and to cost of goods soid using fFP. 2. Determine the costs assigned to ending inventory and to cost of goods vold us ng Lifo. 3. Compute the grots profis for FiFO method and LIFO method. Complete this questien by entering yeur answers in the tahs below