Question: help with a,b,c Check my work Required information [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and

help with a,b,c  help with a,b,c Check my work Required information [The following information
applies to the questions displayed below.) Hemming Co. reported the following current-year
purchases and sales for its only product. Date Activities Units Acquired at

Check my work Required information [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 265 units & $12.60 - $ 3,339 Jan. 10 Sales 225 units & $42.60 Mar. 14 Purchase I 430 units e $17.60 - 7,568 Mar.15 Sales 370 units @ $42.60 July 30 Purchase 465 units @ $22.60 - 10,509 Oct. 5 Sales 440 units @ $42.60 Oct. 26 Purchase 165 units @ $27.60 - 4,554 Totals 1,325 units $25,970 1,035 units 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 margin for each method. a) Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost per Cost of Goods # of units unit Available for Sale # of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units Cost Endi in ending Inventory per unit Inven Connect HW Saved Help Save & Exit Sul Check my wor 3 Hamrun FRP Required information a) Periodic FIFO Cost of Goods Sold 3 of 3 Cost of Goods Available for Sale Cost of Goods # of units Cost per unit Available for Sale 265 $ 12.60 $ 3,339 # of units Cost per sold unit Cost of Goods Sold Ending Inventory # of units Cost Ending in ending inventory per unit Inventory 0 265 $ 12,00 3,339 430 $ 17.60 7,568 0 Beginning inventory Purchases: March 14 July 30 October 26 Total eBook 430 $ 17.60 465 $ 22.60 165 $ 27.60 1,325 7,568 10,509 4,554 25,970 0 165 $27.60 165 4,554 4,554 $ 695 $ 10,907 $ references b) Periodic LIFO Cost of Goods Sold Cost of Goods Available for Sale Cost per Cost of Goods # of units unit Available for Sale 265 $ 12.60 $ 3,339 Ending Inventory # of units Cost Ending in ending Inventory per unit inventory of units Cost per sold unit Cost of Goods Sold Beginning inventory Purchases March 14 July 30 October 26 Total 430 S 17.60 465 $ 22.60 165 $ 27.60 1,325 7,568 10,509 4,554 25,970 $ D $ 0 0 $ 0 c) Gross Margin FIFO LIFO ME So 7 11: Navt FIFO LIFO c) Gross Margin Sales

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