[The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. Activities Date January 1 January 10 March 14 Beginning inventory 220 units Units Acquired at Cost @$10.80 Units Sold at Retail $ 2,376 Sales 190 units $40.80 March 15 July 30 October 5 October 26 Purchase Sales Purchase Sales 330 units @$15.80- 5,214 280 units $40.80 420 units @$20.80- 8,736 390 units @$40.80 Purchase Totals 120 units 1,090 units $25.80 3,096 $ 19,422 860 units ired: ming uses a perpetual inventory system etermine the costs assigned to ending inventory and to cost of goods sold using FIFO. etermine the costs assigned to ending inventory and to cost of goods sold using LIFO ompute the gross profit for FIFO method and LIFO method. omplete this question by entering your answers in the tabs below. equired 1 Required 2 Required 3