Exercise 5-18 Sustainability and perpetual inventory costing LO P1 Tree Seedlings has the following current-year purchases and sales for its only product Date Activities Units Acquired at Cost Units Soldate 1 Beginning inventory 100 - 200 Jan. 3 Sales 8 units as Feb 14 Purchase 138 units@ $3-$414 Feb 15 Sales 120 units @ 8 June 30 Purchase 150 units @ 4 - $ 600 Novo Sales 122 units @ $8 Nov. 19 Purchase 44 units@ $5 - $ 220 Totals 432 units $1,434 328 units 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 margin for each method. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Goods Purchased Cost of Goods Sold Inventory Balance of Date Cost per of units Cost per Cost of Goods Cost per sold unit of units Sold January 1 100 5 2.00 - $ 200 00 January 3 86 @ $ 8.00 - $ 688.00 February 14 52.00 - February 15 June 30 November November 19 Totals $ 688.00 Here Required B Kargin for each method. to cost of goods sold using LIFO FIFO Complete this question by entering your answers in the tabs below. Required A Required Required Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual UFO Date Goods Purchased of Cost per unit Cost of Goods Sold of units Cost per Cost of Goods Sold Solid Cost January 1 January 3 February 14 100 5 200 February 15 June 30 November 6 November 19 Totals $ 0.00