Required information Use the following information for the Exercises 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. Hemming uses a periodic inventory system. Ending inventory consists of 40 units from the March 14 purchase, 80 units from the July 30 purchase, and all 190 units from the October 26 purchase. Using the specific identification method, calculate the following