[The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals 240 units Units Acquired at Cost @ $11.60 Units Sold at Retail = $ 2,784 180 units @ $41.60 370 units @ $16.60 = 6,142 330 units 440 units @ $21.60 = 9,504 415 units @$41.60 @ $41.60 140 units 1,190 units $26.60 3,724 $ 22,154 925 units Ending inventory consists of 55 units from the March 14 purchase, 70 units from the July 30 purchase, and all 140 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 Cost Per # of units Cost Per Activity # of units COGS Unit sold Unit Ending Inventory Units Cost Per Unit Ending Inventory Cost January 1 Beginning Inventory 240 $ 0.00 $ 0 $ 0.00 $ March 14 Purchase 370 $ 0.00 0 $ 0.00 0 July 30 Purchase 440 $ 0.00 0 $ 0.00 0 October 26 Purchase 140 $ 0.00 0 $ 0.00 0 1,190 0 $ 0 0 $ b) Gross Margin using Specific Identification Less: Equals: