! 4 Required information [The following information applies to the questions displayed below.] Part 1 of 2 Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Units Acquired at Cost 110 units Units Sold at Retail 156 units 160 units @ $2 = $ 220 @ $3 = $ 468 @ $4= $ 640 90 units 130 units @ $ 8 @ $8 128 units @ $ 8 Totals 48 units 474 units @ $5 - $ 240 $ 348 units 1,568 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. Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.