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-ye ar purchases and sales for its only product. itiesUnits Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory Jan.10 Sales Mar.14 Purchase Mar.15 Sales July30 Purchase Oct. 5 Sales Oct.26 Purchase 205 units e $10.202,091 300 units e $15.20 4, 560 400 units $20.20 8,080 105 units e $25.22,646 160 units $40.20 250 units e $40.20 375 units e $40.20 Totals 1,010 units $17,377 785 units Exercise 5-9A Periodic: Inventory costing system LO P3 Required: Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method