Use the following information for the Exercises below. The following information applies to the questions displayed below Hemming Co. reported the following current-year purchases and sales for its only product. Jan. 1 Beginning inventory Jan. 10 Sales Har. 14 Purchase Mar.15 Sales July30 Purchase Oct. 5 Sales Oct. 26 Purchase 270 units $12.803.456 400 units $17.807,120 470 units $22.80 10,716 170 units @ $27.80 4.726 220 units $42.80 340 units $42.80 440 units @ $42.80 1,310 units $26,018 1,000 units Totals Exercise 5-8 Specific identification LO P1 Required: Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 55 units from the March 14 p units from the July 30 purchase, and af 170 units from the October 26 purchase. Using the specific identification methoo following ) Cost of Goods Sold using Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Date nisU Ending Ending Activity Units UnitUn Unit Cost COGS Inventory Unit Cost Inventory Cost Sold Units Cost 070