Saved Help Save & Exit Su Check my wc 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 Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar.15 Sales July 30 Purchase Oct. 5 Sales Oct.26 Purchase Totals Units Acquired at Cost 230 units @ $11.20 = $ 2,576 350 units @ $16.20 = 5,670 430 units @ $21.20 - 9,116 130 units @ $26.20 3,406 1,140 units $20,768 Units Sold at Retail 160 units @ $41.20 320 units @ $41.20 400 units @ $41.20 880 units Required: Hemming uses a perpetual inventory system. Assume that ending Inventory is made up of 50 units from the March 14 purchase, 80 units from the July 30 purchase, and all 130 units from the October 26 purchase. Using the specific identification method, calculate the following a) Cost of Goods Sold using Specific Identification Help Save & Exit Submit Check my work Required: Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 50 units from the March 14 purchase. 80 units from the July 30 purchase, and all 130 units from the October 26 purchase. Using the specific identification method, calculate the following a) Cost of Goods Sold using Specific identification Available for Sale Cost of Goods Sold Date Activity Units Ending Inventory Ending Ending Inventory Unit Cont Inventory Unit Cost Inventory Units Cost Unit Cost Units Sold Unit Cost Unit Cost COGS COGS Jan. 1 Beginning Inventory 230 Mar. 14 Purchase 350 July 30 Purchase 4301 Oct. 26 Purchase 1301 1,140 b) Gross Margin using Specific identification Less Equals: