Required informetion The followirig information applies to the questions disployed below] Hemming Comparyy teported the following carrent-year purchases and sales for its only product. Hemming uses a periodic lnventoly system. (a) Determine the costs issigned to ending inveatory and to cost of goods sold ssing FIFO. (b) Determige the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method. Required information Required information Required informetion The followirig information applies to the questions disployed below] Hemming Comparyy teported the following carrent-year purchases and sales for its only product. Hemming uses a periodic lnventoly system. (a) Determine the costs issigned to ending inveatory and to cost of goods sold ssing FIFO. (b) Determige the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method. Required information Required information