Hemming Co. reparted the following curent-year purchases and sales for ns any product its Acquired at...

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Hemming Co. reparted the following curent-year purchases and sales for ns any product its Acquired at Cast 201 units sze.20 $ 2,001 Activities Date Jan. 1 Beginning inventory JM. 10 Sales nits Sold at Retall 158 units I s0.20 s00 unita s23.20 - 4,tea 250 units se, 20 375 units se, 20 Mar. 14 Purchase Har. 15 Sales July s0 Purchase Oct. 5 Sales Oct. 26 Purchase 400 units sze.20- 20 unite S$25.20- 1,010 units Totals $17,377 755 units Exercise 5-10A (Algo) Perpetual: Inventory costing LO P3 Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sole using FIFC. 2 Determine the costs assigned to ending inventory and to cost of goocs soid using LIFO. 3. Compute the gross profit for FIFO method and LIFO menthod. Complete this qrestion by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventery and to cost of goods sold using FEFO Hemming Co. reparted the following curent-year purchases and sales for ns any product its Acquired at Cast 201 units sze.20 $ 2,001 Activities Date Jan. 1 Beginning inventory JM. 10 Sales nits Sold at Retall 158 units I s0.20 s00 unita s23.20 - 4,tea 250 units se, 20 375 units se, 20 Mar. 14 Purchase Har. 15 Sales July s0 Purchase Oct. 5 Sales Oct. 26 Purchase 400 units sze.20- 20 unite S$25.20- 1,010 units Totals $17,377 755 units Exercise 5-10A (Algo) Perpetual: Inventory costing LO P3 Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sole using FIFC. 2 Determine the costs assigned to ending inventory and to cost of goocs soid using LIFO. 3. Compute the gross profit for FIFO method and LIFO menthod. Complete this qrestion by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the costs assigned to ending inventery and to cost of goods sold using FEFO

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1 Computation of COGS and ending inventory Periodic FIFO Hemming co Particulars Cost of goods availa... View the full answer