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Saved Help Required information Use the following information for the Exercises 8-10 below. (Algo) [The following information applies to the questions displayed below.) Hemming Company reported the following current-year purchases and sales for its only product. Units Aequired at Coat 255 units @ $12.20 - Units Sold at Retail $ 3,111 210 units e $42.20 410 units Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 e $17.20 = 7,052 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals 350 units e $42.20 455 units @ $22.20 - 10,101 430 units $42.20 @ $27.20 155 units 1,275 units 4,216 $ 24,480 990 units Exercise 5-8 (Algo) 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 profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. EMINA TARASC Rennen onninn innan menonne A FIRE Required information Data Goods Purchased Cost per # of units unit Cost of Goods Sold Cost per # of units sold Cost of Goods Sold unit Inventory Balance Cost per Inventory unit Balance #of units January 1 January 10 March 14 Total March 14 March 15 Total March 15 July 30 Total July 30 October 5 + Total October 5 October 26 Totals