Exercise 5-19 Sustainability and perlodic Inventory costing LO P3 Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 52 units @ $2 = $ 184 Jan. 3 Sales 38 units @ $8 Feb. 14 Purchase 90 units @ $3 = $ 270 Feb. 15 Sales 78 units @ $8 June 3e Purchase 180 units @ $4 = $ 720 Nov. 6 Sales 140 units @ $8 Nov. 19 Purchase 26 units @ $5 = $ 130 Totals 348 units $1,224 256 units Required: 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 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO Required Required B > Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Cost of Periodic Inventory System Ending Inventory Goods Sold LIFO Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the gross margin for each method. Gross Margin FIFO LIFO S 0 S 0