B.

C.

ak H ces 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. Units Acquired at Cost 190 units @ $2$ 380 300 units @ $3= $900 Date January 11 January 3 February 14 February 15 June 30 November 61 November 191 Activities Beginning inventory Sates Purchase Sales Purchase Sales Purchase Totals Required: The company uses a perpetual inventory system. 240 units 80 units 810 units @$4$960 @$5$400 $ 2,640 Complete this question by entering your answers in the tabs below. Units Sold at Retail 122 units es8 058 es 8 210 units 176 units 508 units 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. Check my work Required information Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold Date January 1 January 3 February 14 Total February 14 February 15 Total February 15 June 30 Total June 30 Goods Purchased # of units Cost per unit # of units sold Prev Cost per Cost of Goods Sold unit 1 of 5 # Next > Inventory Balance Cost per unit # of units Check my work Inventory Balance November 6 Total November 6 November 19 Totals Prev 1 of 5 $ 0.00 Next > Required 8 > Required information January 11 January 3 February 14 Total February 14 February 15 Total February 15 June 30 Total June 30 November 6 Total November 6 November 19 Totals ak 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 Compute the gross profit for each method. Sales revenue Cost of goods sold Gross profit $ FIFO 0 $ LIFO Prev 0 Next >