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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions oisplayea below] Hemming Company reported the following current-year purchases and sales for its only product Exercise 5-8 (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 LIFO (c) Compute the gross profit for each method Exercise 58 (Algo) Periodic: Inventory costing LO P3 Hetring uses a petiodic inventory 5y set (a) Deteimine the costs assigned to ending inventory and to cost is gods and usig FIFO (b) Cereimine the costs assigned to ending ffvemery aho to sos or goods soldueng LFO (5) Compate the gots prote for eachmethod Exercise 5-9 (Algo) Specific identification LO P1 Hemming uses a peliodic inventory sysem, Ending inventory consists of 50 units from the March 14 purchase: 80 unils from the July 30 purchase, and all 155 units from the october 26 purchase Using the specific identification method calculate the following