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 seat cost its Soldattal January 1 Beginning inventory 275 units January 10 13,575 Sales 315.- 20 145.00 March 14 Purchase 450 units 18. - March 15 Sales its . July 30 Purchase 435 units 121.00 10, October Sales 14. October 26 Purchase 175 units 12.00 GAAN Totals 1,175 units 1. Exercise 5-8 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: Hemming uses a perpetual Inventory system 1. Determine the costs 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Determine the costs assigned to ending inventory and cont of code solid Required 1 Required 2 Required Determine the costs and to ending inventory and to cost of goods sold in FIFO. PersLEFON Sostes of its sold Cost per Cost of doods Date Cost per Be Cost ti Ratan January 1 January 10 March 14 Tot March 14 March 15 Toti Mart 15 30 Totally 30 October Tete dobar Omber Total 0.00 Required 2 > 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 Units Acquired at cost 275 units @ $13.ee Units sold at Retail $ 3,575 SK Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 450 units 230 units $43.00 $18.00 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals B, 1 400 units 475 units @ $43.80 $23.00 18.925 455 units $43.00 $28.ee 175 units 1,375 units 49 $ 27,5 1,95 units Exercise 5-8 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: Hemming uses a perpetual inventory system 1. Determine the costs 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO