Use the following information for the Exercises $8-10$ below. $($Algo$)[$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 Units Acquired at Cost $290$ units@ $$13\mathrm{.}60=500$ units@ $$18\mathrm{.}60=490$ units@ $$23\mathrm{.}60=190$ units$1,470$ units@ $$28\mathrm{.}60=$$ $3,9449,30011,5645,434$$ $30,242$Units Sold at Retail $260$ units $430$ units $470$ units$1,160$ units@ $$43\mathrm{.}60$@ $$43\mathrm{.}60$@ $$43\mathrm{.}60$ Exercise $6-10$A $($Algo$)$ Periodic: Inventory costing LO P$3$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.