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[The following information applies to the questions displayed below] Hemming Company reported the following current-year...

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Accounting

[The following information applies to the questions displayed below] Hemming Company reported the following current-year purchases and sales for its only product. Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals Date January 1 January 10 March 14 March 15 July 30 October 5 October 26 equired: emming uses a perpetual inventory system. Units Acquired at Cost @$10.20 = 205 units 300 units 400 units 105 units 1,010 units @ $15.20 = @$20.20 = @ $25.20 = $ 2,091 4,560 8,080 2,646 $ 17,377 Units Sold at Retail 160 units 250 units 375 units 785 units @$40.20 @ $40.20 @ $40.20
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[The following information applies to the questions displayed below] Hemming Company reported the following current-year purchases and sales for its only product Required information Required information npute the gross profit for FIFO method and LIFO method. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO

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