Activities Beginning inventory Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 Units Acquired at Cost Units Sold at Retail 180 units @ $2 = $ 360 January 3 Sales 118 units February 14 February 15 Purchase Sales 282 units @ $3 $ 846 200 units @ $ 8 @ $ 8 June 30 November 6 November 19 Totals Purchase Sales Purchase 230 units @$4 $920 170 units @ $ 8 76 units 768 units @ $5 = $380 $ 488 units 2,506 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 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 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 Required A Required B Required C Compute the gross profit for each method. FIFO LIFO