[The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. ding inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 160 units from the tober 26 purchase. Using the specific identification method, calculate the following. a) Cost of Goods Sold using Specific Identification \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Date } & \multicolumn{3}{|c|}{ Available for Sale } & \multicolumn{4}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventory } \\ \hline & Activity & \# of units & \begin{tabular}{l} Cost Per \\ Unit \end{tabular} & \begin{tabular}{l} \# of units \\ sold \end{tabular} & & \begin{tabular}{l} Per \\ it \end{tabular} & \begin{tabular}{c} Cost of \\ Goods Sold \end{tabular} & \begin{tabular}{l} Ending \\ Inventory \\ Units \end{tabular} & Cost Per Unit & \begin{tabular}{l} Ending Inventory \\ Cost \end{tabular} \\ \hline January 1 & Beginning Inventory & 260 & & & $ & 0.00 & 0 & & 0.00 & $ \\ \hline March 14 & Purchase & 420 & & & $ & 0.00 & 0 & & 0.00 & 0 \\ \hline July 30 & Purchase & 460 & & & $ & 0.00 & 0 & & 0.00 & 0 \\ \hline \multirow[t]{2}{*}{ October 26} & Purchase & 160 & & & $ & 0.00 & 0 & & 0.00 & 0 \\ \hline & & 1,300 & & 0 & & & 0 & 0 & & $ \\ \hline \multicolumn{11}{|c|}{ b) Gross Margin using Specific Identification } \\ \hline \multicolumn{11}{|l|}{ Less: } \\ \hline Equals: & & & & & & & & & & \\ \hline \end{tabular}