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Use the following information for the Exercises below. (Algo)

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Hemming Company reported the following current-year purchases and sales for its only product.

Date	Activities	Units Acquired at Cost					Units Sold at Retail
January 1	Beginning inventory	245	units	@ $11.80	=	$ 2,891
January 10	Sales						190	units	@ $41.80
March 14	Purchase	390	units	@ $16.80	=	6,552
March 15	Sales						350	units	@ $41.80
July 30	Purchase	445	units	@ $21.80	=	9,701
October 5	Sales						430	units	@ $41.80
October 26	Purchase	145	units	@ $26.80	=	3,886
	Totals	1,225	units			$ 23,030	970	units

Exercise 5-9 (Algo) Specific identification LO P1

Hemming uses a periodic inventory system. Ending inventory consists of 40 units from the March 14 purchase, 70 units from the July 30 purchase, and all 145 units from the October 26 purchase. Using the specific identification method, calculate the following.

Please fill in the blank spaces and spaces with "?"

a) Cost of Goods Sold using Specific Identification
	Available for Sale			Cost of Goods Sold			Ending Inventory
Date	Activity	# of units	Cost Per Unit	# of units sold	Cost Per Unit	COGS	Ending Inventory Units	Cost Per Unit	Ending Inventory Cost
January 1	Beginning Inventory	245	$11.80	?	$11.80	$3,599	0	$11.80	$0
March 14	Purchase	390	$16.80	?	$16.80	5,124	40	$16.80	672
July 30	Purchase	445	$21.80	?	$21.80	6,649	70	$21.80	1,526
October 26	Purchase	145	$26.80	?	$26.80	8,174	145	$26.80	3,886
		1,225		?		$23,546	255		$6,084
b) Gross Margin using Specific Identification
	Sales	?
Less:	Cost of goods sold	?
Equals:	Gross profit