I need Explanation and Solution Please

Connect Homework - Chapter 5 Saved Help Save & Exit Submit 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 190 units @ $2 $ 380 122 units @ $8 300 units @ $3 = $ 900 eBook 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 210 units @ $8 240 units @ $4 = $ 960 176 units @ $8 References 80 units @ $5 = $ 400 810 units $2,640 508 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 C Connect Homework Chapter 5 Saved Help Save & Exit Submit 4 Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO 1 Goods Purchased Cost of Goods Sold Inventory Balance points Cost per #of units Cost per #of Cost of Goods Cost per unit Inventory Balance Date #of units units unit sold unit Sold January 1 190@ $ 2.00 $ 380.00 eBook January 3 Print February 14 References February 15 June 30 November 6 Connect Homework - Chapter 5 6 Saved Help Save & Exit Submit Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance #of units cost per Inventory unit Balance 190 @ $ 2.00 = $ 380.00 January 1 January 3 points February 14 eBook February 15 References June 30 November 6 November 19 Connect Homework - Chapter 5 Saved Help Save & Exit Submit February 15 June 30 points November 6 eBook Print References November 19 Required A Required 8 > Connect Homework - Chapter 5 i Saved Help Save & Exit Submit 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. points Required A Required B Required eBook Print Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. References Perpetual LIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold sold unit Sold Date Inventory Balance Wof units cost per Inventory unit Balance 190 $ 2.00 - $ 380.00 January 1 January 3 February 14 February 15 Connect Homework - Chapter 5 Saved Help Save & Exit Submit Perpetual LIFO: Goods Purchased #of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 190 @ $ 2.00 = $ 380.00 January 1 January 3 points February 14 eBook February 15 Print References June 30 November 6 November 19 Connect Homework - Chapter 5 Help Save & Exit Submit February 15 June 30 points November 6 eBook References November 19 Totals