Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 255 units @ $12.20 = $ 3,111 210 units @ $42.20 410 units @ $17.20 = 7,052 Date Activities Jan. 1 Beginning inventory Jan.10 Sales Mar.14 Purchase Mar.15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 350 units @ $42.20 455 units @ $22.20 = 10,101 430 units @ $42.20 155 units @ $27.20 = 1,275 units 4,216 $24,480 990 units Perpetual LIFO: Inventory Balance Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date # of units 255 @ Cost per unit $ 12.20 = Inventory Balance $ 3,111.00 January 1 January 10 March 14 410 @ $ 17.20 @ $ 17.20 March 15 March 15 July 30 455 @ $ 22.20 @ $ 22.20 October 5 October 26 155 @ $ 27.20 October 5 October 26 155 @ $ 27.20 $ 27.20 Totals $ 0.00