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 lts only product an. 1 Beginning investory an. 10 Sales 225 units $13.0 2,47s 4units$16.00-,440 425 units 121.00-8,925 125 units @$26.00-- M 150 units 541.00 300 units $41.00 395 units $41. Rar.15 Sales uly 3 Purchase Oct. 5 Sales Oct.26 Purchase Totals 20,09 845units Exercise 6-7 Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required Hemming uses a 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. Required 1 qured 2 Rqed Determine the costs assigned to ending inventory and to cost of goods sold using FIFO PerpetualFIFO Sold Cost perof units Cost per Cost of Goods