Activities Beginning inventory February 14 February 15 June 30. November 6 November 19 Sales Purchase Sales Purchase Sales Purchase Totals Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 Units Acquired at Cost 40 units $2 - Units Sold at Retail $ 80 30 units @ $8 70 units $3 - $ 210 60 units @ $8 90 units $4- $ 360 86 units @ $8 20 units @ $5- 220 units $ 100 $ 750 176 units The company uses a periodic inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 3. 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. Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO 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 LIFO. Periodic Inventory System Ending Inventory LIFO Cost of Goods Sold Complete this question by entering your answers in the tabs below. Required A Required B Required C equired Compute the gross profit for each method. FIFO LIFO