Activities Beginning inventory Sales 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 230 units Units Sold at Retail @ $2 = $ 460 138 units @ $ 8 $ February 14 Purchase 372 units @ $3 = 1,116 February 15 June 30 Sales 250 units @ $ 8 $ Purchase 280 units $4= 1,120 November 6 November 19 Sales Purchase 220 units @ $ 8 96 units @$5 $ 480 $ Totals 978 units 608 units 3,176 The company uses a periodic 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 LIFO. Cost of Periodic Inventory System Ending Inventory Goods Sold LIFO < Required A Required C >