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

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Accounting

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Hemming Co. reported the following current-year purchases and sales data for its only product. Required: Hemming uses a periodic inventory system. 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 each method

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