Exercise 5-8 Periodic: Inventory costing methods-FFO and LiFO P1 Exercise 5.10 Refer to the information in Exercise 58 and assume the perpetual inventory system is used. Determine the Perpetuat: inventory costing costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (b) LIFO. (c) Compute P3 the gross profit for each method