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. Date Activities January 1 January 10 Beginning inventory Sales March 14 March 15 July 30 October 5 October 26 Purchase Sales Purchase Sales 320 units Units Acquired at Cost 215 units @$10.60 = @ $15.60 = Units Sold at Retail $ 2,279 180 units @$40.60 4,992 260 units @$40.68 415 units @ $20.60 8,549 400 units . @ $48.68 Purchase 115 units @ $25.60 Totals 1,065 units 2,944 $ 18,764 840 units Required information a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Invento Date Cost Per Activity # of units Unit # of units sold Cost Per Unit Cost of Goods Sold Ending Inventory Units Cost Per Unit January 11 Beginning Inventory 215 March 14 July 30 Purchase 320 Purchase 415 October 26 Purchase 115 1,065 b) Gross Margin using Specific Identification Less: Equals