Required Informetion

Use the following information for the Exercises $8-10$ below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

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

Exerclse $5-9($Algo$)$ Speclfic Identification LO P$1$

Ending inventory consists of $65$ units from the March $14$ purchase, $95$ units from the July $30$ purchase, and all $135$ units from the

October $26$ purchase. Using the specific identification method, calculate the following.

a$)$ Cost of Goods Sold using Specific Identification

b$)$ Gross Margin using Specific Identification