Use the following information for the Exercises $8-10$ below. $($Algo$)$

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Hemming Company reported the following current$-$year purchases and sales for its only product.

Date Activities Units Acquired at Cost Units Sold at Retail

January $1$ Beginning inventory $275$ units @ $$13\mathrm{.}00=$ $ $3,575$

January $10$ Sales $230$ units @ $$43\mathrm{.}00$

March $14$ Purchase $450$ units @ $$18\mathrm{.}00=8,100$

March $15$ Sales $400$ units @ $$43\mathrm{.}00$

July $30$ Purchase $475$ units @ $$23\mathrm{.}00=10,925$

October $5$ Sales $455$ units @ $$43\mathrm{.}00$

October $26$ Purchase $175$ units @ $$28\mathrm{.}00=4,900$

Totals $1,375$ units $ $27,5001,085$ units

Exercise $5-10$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.