ences [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 98 units Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals The company uses a periodic inventory system. 120 units 148 units 48 units 398 units 52 = S 188 9 $4 = 55 = S 360 S 560 $ 280 IS 1,300 Units Sold at Retail 66 units 110 units 116 units 292 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. S8 S8

[The following information applies to the questions displayed below. Tree Seedlings has the following current-year purchases and sales for its only product. The company uses a periodic inventory systom. a. Determine the costs assigned to ending inventory and to cost of coods 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