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Required information Skip to question [The following information applies to the questions displayed below.] Hemming...

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Accounting

Required information Skip to question [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 Sold at Retail January 1 Beginning inventory 200 units @ $10 = $ 2,000 January 10 Sales 150 units @ $40 March 14 Purchase 350 units @ $15 = 5,250 March 15 Sales 300 units @ $40 July 30 Purchase 450 units @ $20 = 9,000 October 5 Sales 430 units @ $40 October 26 Purchase 100 units @ $25 = 2,500 Totals 1,100 units $ 18,750 880 units Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold usi

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