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Required information Use the following information for the Exercises 810 below. (Algo) [The following information applies to the questions displayed bolow] Hemming Company reported the following current-year purchases and sales for its only product. Exercise 5-10A (Algo) Periodic: Inventory costing LO P3 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 UFO. (c) Compute the gross profit for each method. Required information \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{10}{|l|}{ a) Periodic FIFO } \\ \hline & \multicolumn{3}{|c|}{ Cost of Goods Available for Swle } & \multicolumn{3}{|c|}{ Cost of Coeds Sold } & \multicolumn{3}{|c|}{ Ending Imventery } \\ \hline & z of units & Cost per unit & CostofGoodsAvailableforSale & Fo units sold & Cost per unit & CostofGoodsSold & ofunitsinendingimventary & Ceat per unit & Endin : \\ \hline Beginning inventory & & & & & & = & & & \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline \multicolumn{10}{|l|}{ March 14} \\ \hline \multicolumn{10}{|l|}{ doly 30} \\ \hline \multicolumn{10}{|l|}{ October 20} \\ \hline Total & 0 & & 0 & 0 & & 5 & 0 & & 5 \\ \hline \multicolumn{10}{|l|}{ b) Periodle LIFO } \\ \hline & \multicolumn{3}{|c|}{ Cost of Coods Avaitable for 5ale : } & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \multicolumn{3}{|c|}{ Ending Inventery } \\ \hline & I of units & Cost per unit & CoatofCoodsAvalilableforSale & I of units sold & Cost per unit & CestofGoodsSold & Ifofunitsinendinginventory & Cost per unit & Endin \\ \hline \multicolumn{10}{|l|}{ Beginning invertory } \\ \hline \multicolumn{10}{|l|}{ Purchases: } \\ \hline March 14 & & & & & & & & & 2 \\ \hline Ny 30 & & & & & & & & & \\ \hline \multicolumn{10}{|l|}{ October 26} \\ \hline Tots: & 0 & & 5 & 0 & & $ & & & 5 \\ \hline \multicolumn{10}{|l|}{ c) Bross profit } \\ \hline & FFO & L.FO & & & & & & & \\ \hline \end{tabular} (1) Recuired information b) Peciodic LIFO