The following information applies to the questions displayed belowJ temming Company reported the following current-yar purchases and sales for its only product. inventory consists of 65 units from the March 14 purchase, 95 units from the July 30 purchase, and all 135 units from tober 26 purchase. Using the specific identification method, calculate the following. Ending inventory consists of 65 units from the March 14 purchase, 95 units from the July 30 purchase, and all 135 units from the October 26 purchase. Using the specific identification method, calculate the following. Required information [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. 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 profit for each method. a) Periodic FIFO b) Periodie LIFO Required information Required information b) Periodie LIFO \begin{tabular}{l|l|l|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{} & \multicolumn{2}{|c|}{ Cost of Goods Sold } & \multicolumn{2}{|c|}{ Ending inventory } \\ of Goods ble for Sale & \# of units sold & Cost per unit & Cost of Goods Sold & \# of units in ending Inventory & Cost per unit & Ending inventory \\ \hline & & & & & & \\ \hline & & & & & & \\ \hline \end{tabular}