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IW Saved Help Save & E 5! Check my 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 Activities Units Acquired at Cost Units SoltoRetail Tunuary 1 Beginning Inventory 260 units $12.40 $ 3,224 January 10 Sales 215 units $42.40 March 14 Purchase 420 units $17.40 7,103 March 15 Sales 188 units 562.40 July 30 Purchase 400 units $22.40 10,30 October Sales 425 units 542.40 October 20 Purchase 160 units $27.00 Totals 1.300 units 1,020 units 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. Compute the gross profit for each method 85 Connect HW Q2 Help Save Required information Commons Determine the costs and to engine and to copos de Determine the costs assigned to ending inventory and to conto de como Compute the gross profit for each method Po FIFO Custood for oft Cost per unit Cost of Goods Available for Sale Code of units old cost per Cost of Sed in C M Bay Oct Pedro Costa Gostotale Ceneo of units Cost per un Coat of Goods Available for sale of units sold cost Custotoo Deginimo Help Save & Suit Check my w - Required information Testal by Periodic LIFO Cost of Goods Available for Cost of Good told Erling mo of in Costa Inventory of units Cost per unit Cost of Goods Available for Sale Wof units sold Cost per unit Cost of Goods Sold ting Beginneg inventory Purchase March 14 July October 20 Total Gross FO LIFO Next >

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