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Required information

$[$The following information applies to the questions displayed below.$]$

Tree Seedlings has the following current$-$year purchases and sales for its only product.

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 profit for each method.

Required information

$\backslash$table$[[$Perpetual FIFO:$],[\backslash$table$[[$Date$],[$January $1]],$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,$\backslash$table$[[\backslash$table$[[$Cost per$],[$unit$]]]],\backslash$table$[[$# of units$],[$sold$]],\backslash$table$[[\backslash$table$[[$Cost per$],[$unit$]]]],\backslash$table$[[$Cost of Goods$],[$Sold$]],$# of units,$\backslash$table$[[$Cost per$],[$unit$]],\backslash$table$[[$Inventory$],[$Balance$]]],[,,,,,],[$January $3,,,,,$$$2\mathrm{.}00,=,\backslash$table$[[$$$,0\mathrm{.}00]],,,$a$],[$February $14,102,$at$,$$$3\mathrm{.}00,,,,,,,.],[,,,,",,,$at$,$$$3\mathrm{.}00,],[$Total February $14],[$February $15,,,,,,.,,,,],[,,8,$i$.,,,,,,],[$Total February $15],[,,,,",,,,,,],[$June $30],[,,,,,,,,,,],[$Total June $30],[,,,,,,,,,,],[$November $6],[,4,,,,,,,,,],[$Total November $6],[,,,,,.,,,,,],[-$n$...,,,,,-,,,,,]]$