Exercise 5-18 Sustainability and perpetual inventory costing LO P1 Tree Seedlings has the following current-year purchases and sales for its only product. Units Sold at Retail points Units Acquired at Cost 200 units $2 $ 400 126 units e $8 318 units @ $3 $ 954 Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov.19 Purchase Totals 220 units @ $8 250 units @ $4 - $1,000 eBook 182 units @ $8 $ 420 84 units e $5 852 units 528 units Required: The company uses a perpetual inventory system. References 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. Homework - Chapter 5 0 Help Determine the costs assigned to ending Inventory and to cost of goods sold using FIFO, 1 Perpetual FIFO: Goods Purchased of Cost per unit Cost of Goods Sold of units Cost per cost of Goods sold unit Sold Date Inventory Balance Corpet Balance 200 @ $ 2.00 - $ 400.00 January 1 January 3 February 14 $ 3.00 February 15 ances June 30 November 6 November 19 Determine the costs assigned to ending Inventory and to cost of goods sold using LIFO. Perpetual LIFO: Date Goods Purchased Cost per units unit Cost of Goods Sold of units Cost per Cost of Goods Sold Sold Inventory Balance of units Cost per inventory unit balance 200 @ $ 2.00 - $400.00 January 1 January 3 February 14 February 15 June 30 erences November 6 November 19 Totals $ 0.00 Required A Required ) Totals Beunits e $5 - $ 420 852 units $2,774 528 units points 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. eBook Print Complete this question by entering your answers in the tabs below. References Required A Required B Required C Compute the gross margin for each method. FO: LIFO: Sales revenue Cost of goods sold Gross margin ols Required B