5 O Part 1 of 2 10 points Required information Use the following information for the Exercises 11-13 below. (Algo) The following information applies to the questions displayed below) Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Units Required at Cost Units sold at Retail January 1 Beginning inventory 70 units $2$ 140 January 3 Sales 42 unita 58 February 14 Purchase 94 units $3 - $ 282 February 15 Sales 90 units June 30 Purchase 120 units $ 45480 November 6 Sales 104 units 50 November 19 Purchase 32 units +55 - 5 160 5 Totals 316 units took AK Print References 1,062 236 units Exercise 5-11 (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. Exercise 5-12 (Algo) Perpetual: Journalizing transactions LO P1 Record journal entries for Tree Seedlings' sales and purchases transactions. Assume for this assignment that the company uses a perpetual inventory system and LIFO. All sales and purchases are made on account, and no discounts are offered, View transaction list X 1 Record the sale of goods. > 2 Record the cost of sale. 3. Record the purchase of Inventory. 4 Record the sale of goods Credit 5 Record the cost of sale. 6 Record the purchase of inventory. 7 Record the sale of goods. 8 Record the cost of sale.