Question: Answer this & explain how you get the # of units sold & the # of units in ending inventory Required information Use the following
Answer this & explain how you get the # of units sold & the # of units in ending inventory

Required information Use the following information for the Exercises 8-10 below. (Algo) Part 1 of 2 [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. 14.28 Date Activities Units Acquired at Cost Units Sold at Retail points Jan. 1 Beginning inventory 245 units @ $11. 80 = $ 2, 891 Jan. 10 Sales 190 units @ $41.80 Mar. 14 Purchase 390 units @ $16.80 = 6,552 Mar. 15 Sales 350 units @ $41.80 July 30 Purchase 445 units @ $21.80 = 9 , 701 eBook Oct. 5 Sales 430 units @ $41.80 Oct. 26 Purchase 145 units @ $26.80 = 3, 886 Totals 1, 225 units $23, 030 970 units References Exercise 5-8 (Algo) Periodic: Inventory costing methods-FIFO and LIFO LO P1 Required: Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. (b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. (c) Compute the gross profit for each method. a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending In
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