Required:Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Required information[The following information applies to the questions displayed below.]Hemming Co. reported the following current-year purchases and sales for its onlyproduct.ActivitiesUnits Acquired at Cost300 units @ $14.00DateUnits Sold at Retail= $ 4,200Jan. 1 Beginning inventoryJan.10 Sales250 units @ $44.00Mar.14 Purchase520 units @ $19.009,880Mar.15 Sales460 units @ $44.00July30 Purchase500 units @ $24.0012,000Oct. 5 Sales480 units @ $44.00Oct.26 Purchase200 units @ $29.005,800Totals1,520 units$31,8801,190 units a) Periodic FIFOCost of Goods Available for SaleCost of Goods SoldEnding InveCost of GoodsAvailable for# of unitsin endinginventoryCost per# of unitsCost perCost ofCost# of unitsunitsoldunitGoods Soldper uni-SaleBeginning inventoryPurchases:March 14July 30October 26Total2$$b) Periodic LIFOCost of Goods Available for SaleCost of Goods SoldEnding Inve# of unitsin endingCost of GoodsCost per# of unitsCost perCost ofCost# of unitsAvailable for

Name: Required:Hemming uses a periodic inventory system. (a) Determine the
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Description: Required:Hemming uses a periodic inventory system. (a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Required information[The following information applies to the questions displayed below.]Hemming Co. report