Date Activities Units Acquired at Cost Jan. 1 Beginning inventory Jan. 3 Sales Feb.14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase 70 units @ $2 = $ 140 94 units @ $3 = $ 282 120 units @$4 = $ 480 Totals 34 units @ $5 = $ 170 318 units $1,072 Required: Units Sold at Retail 42 units @ $8 86 units @ $8 94 units @ $8 222 units 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 margin 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 FIFO Cost of Goods Sold