Required information Use the following information for the Exercises below. The following information applies to the question played below Hemming Co. reported the following current year purchases and used for its only product Active ws Sinary 21 ts $11.2-2.575 14 Pand with 4.2 Hits si.. 5,50 Is Sales 41.22 Nye ich its - 9.116 Oct. 5 Sales Oct.2 Purchase 12.20 1.45 Totals 1,14 Exercise 6-7 Perpetual Inventory costing methods-FIFO and LIFO LO P1 Required Meng perpetuinventory system Determine the couted to ending Inventory and to cost of goods sold using 2. Determine the signed to ending inventory and to out of goods sold wing up 3. Computere grossen for FIFO method and LIFO med Complete questions by entering your answers in the below tabs gard 2 Det the colored to ending the car and to cost of goods using un Doct per unit Cold Cost perunt Cost of goods Bod P. Cost very Balance $2.500 DEZ termine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpe Conced of Cost perunt Cost of oods Bold of units Cout Cost of code cord per unit fold Inventory Balance of units Cost Inventory per unit Balance 230 5 11.20 $ 2.675.00 Ole January 1 onuary 10 March 14 Maren 15 July 30 0.00 Required 2 > Required Hemming uses a perpetual inventory system 1. Determine the cost signed to ending Inventory and to cout of goods sold using FIFO 2. Determine the costs and to ending Inventory and to cost of goods sold using UFO 3. Compute the gross margin for FIFO method and LIFO method Complete this questions by entering your answers in the below tabs. 3 Determine the costs assigned to ending intory and to cost of goods sold using UFO. Carp LED Doods hered Cost Coster Doods Bold of units Cost Cort of Goods perunt Bold Date of unit Cost per unit Inventory no $ 2.576.00 January 1 tarch 14 ay 30 October Odoo 5 0.001 Required Required> 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 Date ALIVE Units Acquired at Cost units Sold at Retail 1.1 Beginning inventory 230 units $11.22 - $ 2,576 Jan. 18 Sales 16 units $41.20 NO.14 Purchase 358 units $15.20 5,670 M.15 Sales 320 units $41.20 July 3D Purchase 438 units $21.20 9.116 Oct. 5 Sales units $41.29 Oct. 26 Purchase 11 units $26. 20 3,435 Totals 1,140 units se units Exercise 6-7 Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: Hemming uses 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 margin for FIFO method and LIFO method. Complete this questions by entering your answers in the below tabs. R1 Requred2 Rad 3 Compute the grass margin for FIFO method and UFO method. FFO LIFO: Stove LOMCo go
