Hemming Co. reported the following current-year purchases and sales data for its only product.

Hemming Co. reported the following current-year purchases and sales data for its only product.
Date Activities Units Acquired at Cost
Jan. 1 Beginning inventory 200 units @ $10 = s 2,000
Jan. 10 Sales
Mar. 14 Purchase 350 units @ $15 = 5,250
Mar. 15 Sales
July 30 Purchase 450 units @ $20 = 9,000
Oct. 5 Sales
Oct 26 Purchase 100 units @ $25 = 2,500
Totals 1, 100 units $18,750
Hemming uses a perpetual inventory system.
award:

Units Sold at Retail
150 units @S40
300 units @S40
430 units @S40
880 units

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 

Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 

Compute the gross margin for FIFO method. 

Compute the gross margin for UFO method.