Utold sta Unit Acoust 245 units $11.852,891 190 $41.80 390 units $16.80 6,552 Date Activities Jan. 1 Beginning inventory Jan.10 Sales Mar. 14 Purchase Mar. 15 Sales July 10 Purchase Oct. 5 Sales Oct 26 Purchase Totals 445 units #521. Be 9,701 350 units 541.30 4 units $41.30 145 urdts $26.80 1,225 units 3. $23,030 97 units Exercise 5-7 Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required Hemming uses a perpetual inventory system 1. Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO, 2 Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO 3. Compute the gross margin for FIFO method and LIFO method Complete this questions by entering your answers in the below tabs. Required Rage 2 Required Compute the gross margin for FIFO method and LIFO method FIFO LIFO Salve Le Cost of goods sold Grossmag Required 2 a Type here to search