52 Saved Help Save Exit Submit Check my work Hemming Company reported the following current year purchases and sales for its only product Date January 1 January 10 Activities Units Acquired at Cost Units Sold at Retat Beginning inventory 240 units $11 60 $2,784 March 14 March 15 Sales Purchase Sales 180 units $41 60 370 units July 30 October 5 October 26 Purchase Sales Purchase 440 units Totals 140 units 1,190 units $16 60 $21 60 $26 60 6,142 9,504 330 units 415 units $41 60 0541 60 3,724 $ 22,154 925 units Required Hemming uses a perpetual inventory system 1 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO ) 2 Determine the costs assigned to ending inventory and to cost of goods sold using LIFO 3 Compute the gross profit for FIFO method and LIFO method 7 of 19 Next

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52 Saved Help Save   Exit Submit Check my work Hemming Company reported the following current year purchases and sales for its only product  Date January 1 January 10 Activities Units Acquired at Cost Units Sold at Retat Beginning inventory 240 units  $11 60 $2,784 March 14 March 15 Sales  Purchase Sales 180 units $41 60 370 units July 30 October 5 October 26 Purchase Sales Purchase 440 units Totals 140 units 1,190 units  $16 60   $21 60   $26 60   6,142 9,504 330 units 415 units $41 60 0541 60 3,724 $ 22,154 925 units Required  Hemming uses a perpetual inventory system  1  Determine the costs assigned to ending inventory and to cost of goods sold using FIFO ) 2  Determine the costs assigned to ending inventory and to cost of goods sold using LIFO   3  Compute the gross profit for FIFO method and LIFO method  7 of 19 Next

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Question: 52 Saved Help Save & Exit Submit Check my work Hemming Company reported the following current-year purchases and sales for its only product. Date

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