Hemming Co. reported the following current-year purchases and sales for its only product. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 165 units @ $12.60 = $ 2,079 Jan. 10 Sales 155 units @ $42.60 Mar. 14 Purchase 315 units @ $17.60 = 5,544 Mar. 15 Sales 205 units @ $42.60 July 30 Purchase 465 units @ $22.60 = 10,509 Oct. 5 Sales 235 units @ $42.60 Oct. 26 Purchase 665 units @ $27.60 = 18,354 Totals 1,610 units $ 36,486 595 units