Saved ework [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Dato Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 300 units @ $14.00 - $ 4,200 Jan. 10 Sales 250 units e $44.00 Mar. 14 Purchase 520 units $19.00 - 9,880 Mar.15 Sales 460 units @ $44.00 July 30 Purchase 500 units & $24.00 - 12,000 Oct. 5 Sales 480 units @ $44.00 Oct.26 Purchase 200 units $29.00 5,800 Totals 1,520 units $31,880 1,190 units Required: Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 50 units from the March units from the July 30 purchase, and all 200 units from the October 26 purchase. Using the specific identification me the following Cost of Goods Sold a) Cost of Goods Sold using Specific Identification Available for Sale Unit Date Activity Units Units Sold Ending Inventory Ending Ending Inventory Unit Cost Inventory Units Cost 0.00 $ 0 Unit Cost COGS Cost $ 0.00 $ Beginning inventory Purchase 30014 520 $ $ $ 0.00 0.00 0 Jan. 1 Mar. 14 July 30 Oct. 26 $ 0.00 0 OOOOO 500 A 0.00 0.00 Purchase Purchase $ $ $ 0.00 200 0 0 0 1,520 $ $ b) Gross Margin using Specific Identification Less: Equals