ventories and Cost of Sales Exercises Assign... i Required information [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 Activities Beginning inventory Sales Purchase Sales March 14 March 15. July 30 October 5 October 26 Purchase Sales Purchase Totals Required: Hemming uses a perpetual inventory system. Required 1 Required? Units Acquired at Cost 230 units @ $11.20 = 350 units Required 3 430 units 130 units 1, 140 units Saved Complete this question by entering your answers in the tabs below. @ $16.20 = @$41.20 @$41.20 @$41.20

Required information [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Required information [The following information applies to the questions displayed below.] Hemming Company reported the following current-year purchases and sales for its only product. 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below