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S Required formation Use the following Information for the Exercises below. The formation to the questions d e below! Hemming Co. reported the following current year purchases and sales for it only product Date Activities Units Acquired at Cost Units Sold at Retail Beginning 255 units $12.20 - $ 3,111 1 Sales 210 units $42.20 Mar.14 Purchase 410 units $17.20 - 7,052 Mar.15 Sales 35 units $42.20 Salyse Purchase 455 units $22.20 - 10,11 Octs Sales 438 units $42.20 Oct. 26 Purchase 155 units $27.20 - 4,216 Totals 1,275 units $24,40 990 units tory Exercise 6-7 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 LIFO 3. Compute the gross margin for FIFO method and LIFO method Complete this questions by entering your an Required 2 required 3 Determine the contened to ending inventory and to cost of goods sold using Pro Cost of Good Son coal per Coat of Goode Coat per of 210 @ $4220 5 2001