The following information applies to the questions displayed below] Hemming Co. reported the following current-year purchases and sales for ts only product 250 units $12.00 $3.000 Jan. 10 Sales 450 unite$22.009,900 Oet. 5 Sales 150 units $27.00,050 1,250 units Oct. 26 Purchase $23,750 980 unite Required: Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross margin for each method. t of a) Periodic FIFO Cost Ending oin ending per unit Inventory Cost of Cost unit Goods Sold inventory sold tory 14 July 30