value 20.00 points Exercise 5-9A Periodic: Inventory costing LO P3 Hemming Co. reported the following current-year purchases and sales data for its only product. Date Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Activities Units Acquired at CostUnits Sold at Retail 135 units @$41.80 185 units @$41.80 255 units @$41.80 145 units @ $11.80 = $ 1.711 295 units @ $16.80 = 4.956 445 units @ $21.80-9.701 645 units @ $26.80 = 17.286 $33,654 Totals 1,530 units 575 units Required: 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 margin for each method a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for cost in ending nar unit Invantnr cost of Ending #Of units Cost per init Cost of # of units