[The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Date Activities January 1 January 10 Beginning inventory Sales March 14 March 15 July 30 October 5 October 26 Purchase Sales Purchase Sales Purchase Totals 400 units Units Acquired at Cost 250 units @ $12.00 = @ $17.00 = Units Sold at Retail $ 3,000 200 units @ $42.00 6,800 360 units @$42.00 450 units $22.00 = 9,900 420 units @ $42.00 150 units 1,250 units $27.00 = 4,050 $ 23,750 980 units Ending inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 150 units from the October 26 purchase. Using the specific identification method, calculate the following. a) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Date Activity # of units Cost Per # of units Cost Per COGS Unit sold Unit Ending Inventory Units Cost Per Unit Ending Inventory Cost January 1 Beginning Inventory 250 $ 0.00 $ 0 $ 0.00 $ March 14 Purchase 400 $ 0.00 0 $ 0.00 July 30 Purchase 450 S 0.00 0 $ 0.00 October 26 Purchase 150 $ 0.00 0 $ 0.00 1,250 0 $ 0 0 $ b) Gross Margin using Specific Identification Less: Equals: