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. Units Sold at Retail Date January 1 January 10 Activities Beginning inventory Sales $ 2,376 Units Acquired at Cost 220 units $10.00- 330 units $15.00- March 14 March 15 Purchase Sales 190 units 200 units $40.00 $40.00 420 units $20.80- July 30 October 5 Purchase Sales 5,214 8,736 1,096 390 units $40.80 October 26 Purchase @ $25.80- 120 units 1,090 units Totals $ 19,422 860 units Ending inventory consists of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 120 units from the October 26 purchase. Using the specific identification method, calculate the following. ces a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Date Activity Cost Per # of units Unit sold Cost Per Unit Ending Inventory Cost Per Unit Ending Inventory Cost Units January 1 Beginning Inventory March 14 Purchase July 30 Purchase October 26 Purchase b) Gross Margin using Specific Identification Less: Equals: # of units 220 330 420 120 1,090 COGS Ending inventory consists of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 120 units from the October 26 purchase. Using the specific identification method, calculate the following a) Cost of Goods Sold using Specific identification Available for Sale Cost of Goode Bold Ending inventary Date Activity Cost Per Unit of units sold Cost Par Unit Ending Inventory Unite Cost Per Unit Ending inventury Cost January 1 Beginning Inventory March 14 Purchase July 30 Purchase October 20 Purchase b) Gross Margin using Specific Identification Less: Equals # of units 220 330 420 120 1,090 COGS