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Required information The following information applies to the questions displayed below. Hemming Company reported the following currentyear purchases and sales for its only product. tableDateActivities,Units,quired atUnits sold,RetailJanuary Beginning inventory, units,@ $$January Sales,,,,, units,@March Purchase, units,@ $March Sales,,,,, units,@ $tableJuly October tablePurchaseSales units,C $October Purchase, units,@ $Totals, units,,,$ units, Required: Hemming uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Compute the gross profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Required 
Required information
The following information applies to the questions displayed below.
Hemming Company reported the following currentyear purchases and sales for its only product.
tableDateActivities,Units,quired atUnits sold,RetailJanuary Beginning inventory, units,@ $$January Sales,,,,, units,@March Purchase, units,@ $March Sales,,,,, units,@ $tableJuly October tablePurchaseSales units,C $October Purchase, units,@ $Totals, units,,,$ units,
Required:
Hemming uses a perpetual inventory system.
Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.
Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.
Compute the gross profit for FIFO method and LIFO method.
Complete this question by entering your answers in the tabs below.
Required
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