Can someone help with this and explain step by step with calculation n reason

Required information Use the following information for the Exercises 8-10 below. (Algo) [The following information applies to the questions displayed below] Hemming Company reported the following current-year purchases and sales for its only product. Exercise 5-8 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 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 UFO. 3. Compute the gross profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. (1) Required information vecermine tne costs assigned to enaing inventory ana to cost or gooas soio using Liru. Exercise 58 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 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 soid using LiFO. 3. Compute the gross profit for FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Compute the gross profit for FIFO method and LIFO method