(1) Required information \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{14}{|c|}{ Perpetual LIFO: } \\ \hline \multirow[b]{3}{*}{ January 1} & \multicolumn{3}{|c|}{ Goods Purchased } & \multicolumn{5}{|c|}{ Cost of Goods Sold } & \multicolumn{5}{|c|}{ Inventory Balance } \\ \hline & \multicolumn{2}{|c|}{ if of units } & \multirow[t]{2}{*}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} \# of units \\ sold \end{tabular}} & \begin{tabular}{c} Cost per \\ unit \end{tabular} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost of Goods \\ Sold \end{tabular}} & \multicolumn{2}{|c|}{ \# of units } & \begin{tabular}{c} Cost per \\ unit \end{tabular} & \multicolumn{2}{|c|}{\begin{tabular}{l} Inventory \\ Balance \end{tabular}} \\ \hline & & & & & & & & & 120 & at & $2.00 & = & $240.00 \\ \hline January 3 & & & & 94 & at & $8.00 & = & $752.0007 & 26 & at & $2.00 & = & $52.00 \\ \hline \multirow{2}{*}{ February 14} & 174 & at & $3.00 & & & & & & 26 & at & $2.00 & = & 552.00 \\ \hline & & & & & & & & & 174 & at & $3.00 & = & 522.00 \\ \hline Total February 14 & & & & & & & a & & & & & & $574.00 \\ \hline \multirow{2}{*}{ February 15} & % & & & & at & \$. 2.00 & = & 0.00 & & at & $2.00 & * & \\ \hline & & & & & at & s 3.00 & " & 0.00 & & at & \$ 3.00 & = & \\ \hline \multicolumn{14}{|l|}{ Total February 15} \\ \hline \multirow{3}{*}{ June 30} & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & + \\ \hline & & & & & & & & & & & & & \\ \hline \multicolumn{14}{|l|}{ Total June 30} \\ \hline & & & & & & & & & & & & & \\ \hline \multicolumn{14}{|l|}{ Novernber 6} \\ \hline & & & & & & & & & & & & & \\ \hline \multicolumn{14}{|l|}{ Total November 6} \\ \hline & & & & & & & 4 & & & & & & \\ \hline \multirow[t]{2}{*}{ November 19} & & & & & & & & & & & & & E \\ \hline & & & & & & & & & & & & & \\ \hline & & & & & & & & & & & & & \\ \hline Totals & & & & & & & & $752.00 & & & & & \\ \hline \end{tabular} (1) Required information \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{17}{|c|}{ Perpetual FiFO: } \\ \hline \multirow[b]{3}{*}{ January 1} & \multicolumn{3}{|c|}{ Goods Purchasod } & \multicolumn{6}{|c|}{ Cost of Goods Sold } & \multicolumn{7}{|c|}{ Inventory Balance } \\ \hline & \multicolumn{2}{|c|}{8 of unlis } & \begin{tabular}{c} Cost por \\ unit \end{tabular} & \multicolumn{2}{|c|}{\begin{tabular}{l} \# of units \\ sold \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost por \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost of Goods \\ Sold \end{tabular}} & \multicolumn{2}{|c|}{ Af of units } & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} Inventory \\ Balance \end{tabular}} \\ \hline & & & & & & & & & & 120 & at & & 2.00 & = & $ & 240.00 \\ \hline danuary 3 & & & & 94 & at & \$ & 8.00 & = & \$ 752.00 & 26 & at & $ & 2.00 & = & $ & 52.00 \\ \hline \multirow[b]{2}{*}{ Fobruary 14} & 174 & at & $3.00 & & & & & & & 26 & at & $ & 200 & = & $ & 52.00 \\ \hline & + & & & & & & & & & 174 & at & $ & 3.00 & = & & 522.00 \\ \hline Total February 14 & & & & & & & & 7 & & & & & & & $ & 574.00 \\ \hline \multirow{2}{*}{ February 15} & & & & 26 & at. & $ & 2,00 & = & \$ 52.00 & 0 & at & $ & 2.00 & = & & \\ \hline & & & & 114 & at & 5 & 3.00 & = & 342.00 & 60 & at & $ & 3.00 & & $ & 180.00 \\ \hline Total February 15 & & & & & & & & & $394.00 & & & & & & $ & 180.00 \\ \hline \multirow{3}{*}{ June 30} & 170 & at & $4.00 & & & & & & & 0 & at & $ & 2.00 & = & & \\ \hline & & & & & & E1 & 8 & & & 60 & at & $ & 3,00 & = & & 180,00 \\ \hline & & & & & & E & & & & 170 & at & $ & 4.00 & = & . & 680.00 \\ \hline Total June 30 & & & & & & T & & & & & & & & & $ & 860.00 \\ \hline \multirow{3}{*}{ November 6} & & & & 0 & at & $ & 200 & = & $0.00 & 0 & at & $ & 2.00 & = & & \\ \hline & & & & 60 & at & 5. & 3.00 & = & 180.00 & 60 & at & $ & 3.00 & = & & 180.00 \\ \hline & & & & 74 & at & $ & 4.00 & = & 296.00 & 96 & at & $ & 4.00 & = & & 384.00 \\ \hline Total November 6 & & & & & & & & & $476.00 & & & & & & $ & 564,00 \\ \hline \multirow{4}{*}{ November 19} & 52 & at & $5.00 & & & & & & & 0 & at & $ & 2.00 & = & & \\ \hline & & & & & & & & B & & 60 & at & $ & 3.00 & = & & 180.00 \\ \hline & & & & & & & & & & 96 & at & $ & 4.00 & = & & 384.00 \\ \hline & & & & & & & & & & 52 & at & $ & 5.00 & = & & 260.00 \\ \hline \end{tabular} Prev 4 of 10 Next > Exercise 6-11 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below. Compute the gross profit for each method. (1) Required information \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{17}{|c|}{ Perpetual FiFO: } \\ \hline \multirow{3}{*}{\begin{tabular}{l} Date \\ January 1 \end{tabular}} & \multicolumn{3}{|c|}{ Goeds Purchasod } & \multicolumn{6}{|c|}{ Cost of Goods Sold } & \multicolumn{7}{|c|}{ Inventory Balance } \\ \hline & \multicolumn{2}{|c|}{ \# of units } & \begin{tabular}{c} Cost per \\ unit \end{tabular} & \multicolumn{2}{|c|}{\begin{tabular}{l} \# of units \\ sold \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost por \\ unit \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost of Goods \\ Sold \end{tabular}} & \multicolumn{2}{|c|}{ Af of units } & \multicolumn{2}{|c|}{\begin{tabular}{c} Cost per \\ unit \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} Inventory \\ Balance \end{tabular}} \\ \hline & & & & & & & & & & 120 & at & & 2.00 & = & $ & 240.00 \\ \hline danuary 3 & & & & 94 & at & $ & 8.00 & = & $752.00 & 26 & at & $ & 2.00 & = & $ & 52.00 \\ \hline \multirow[b]{2}{*}{ February 14} & 174 & at & $3.00 & & & & & & & 26 & at & $ & 200 & = & $ & 52.00 \\ \hline & + & & & & & & & & & 174 & at & $ & 3.00 & = & & 522.00 \\ \hline Total February 14 & & & & & & & & 7 & & & & & & & $ & 574.00 \\ \hline \multirow[b]{2}{*}{ February 15} & & & & 26 & at. & $ & 2.00 & = & \$ 52.00 & 0 & at & $ & 2.00 & = & & \\ \hline & & & & 114 & at & 5 & 3.00 & = & 342.00} & 60 & at & $ & 3.00 & & $ & 180.00 \\ \hline Total Fobruary 15 & & & & & & & & & $394.00 & & & & & & $ & 180.00 \\ \hline \multirow{3}{*}{ June 30} & 170 & at & $4.00 & & & & & & & 0 & at & $2 & 2.00 & = & & \\ \hline & & & & & & & - & 3 & & 60 & at & $ & 3,00 & = & & 180,00 \\ \hline & & & & & 1 & E & & & & 170 & at & $ & 4.00 & = & . & 680.00 \\ \hline Total June 30 & & & & & & & & & & & & & & & $ & 860.00 \\ \hline \multirow{3}{*}{ November 6 : } & & & & 0 & at & $ & 200 & = & $0.00 & 0 & at & $ & 2.00 & = & & \\ \hline & & & & 60 & at & 5 & 3.00 & = & 180.00 & 60 & at & $ & 3.00 & = & & 180.00 \\ \hline & & & & 74 & at & $ & 4.00 & = & 296.00 & 96 & at & $ & 4.00 & = & & 384.00 \\ \hline Total November 6 & & & & & & & & & $476.00 & & & & & & $ & 564.00 \\ \hline \multirow{4}{*}{ November 19} & 52 & at & $5.00 & & & & & & & 0 & at & $ & 2.00 & = & & \\ \hline & & & & & & & & 1 & & 60 & at & $ & 3.00 & = & & 180.00 \\ \hline & & & & & & & & & & 96 & at & $ & 4.00 & = & & 384.00 \\ \hline & & & & & & & & & & 52 & at & $ & 5.00 & = & & 260.00 \\ \hline \end{tabular} Prev 4 of 10 Next > Required information Use the following information for the Exercises 11-13 below. (Algo) [The following information applios to the questions displayed below.] Tree Seedlings has the following current-year purchases and soles for its only product. Exercise 6-11 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 Required: Required: The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below