Exercise $6-8$

Perpetual: Inventory costing methods$-$FIFO and LIFO

P$1$

Hemming Co$.$ reported the following current year purchases and sales for its only product.

$\backslash$table$[[$Date$,$Activities,Units Acquired at Cost,Units Sold at Retail$],[\backslash$table$[[$Jan$.1],[$Jan$.10],[$Mar$.14],[$Mar$.15],[$July $30],[$Oct$.5],[$Oct$.26]],,\backslash$table$[[200$ units @$$10=$$$2,000$