Hemming Co reported the following current-year purchases...

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Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 230 units @ $11.20 = $ 2,576 Jan. 10 Sales 160 units @ Mar. 14 Purchase 350 units @ $16.20 = 5,670 Mar. 15 Sales 320 units @ July 30 Purchase 430 units @ $21.20 = 9,116 Oct. 5 Sales 400 units $41.20 $41.20

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