Required information Use the following information for the Exercises 8-10 below. (Algo) [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Compute the gross profit for FIFO method and LIFO method