! 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. = Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Units Acquired at Cost Units Sold at Retail 150 units @ $2 = $ 300 106 units @ $ 8 228 units @ $3 $ 684 170 units a $ 8 200 units @ $4 = $ 800 152 units @ $ 8 64 units @ $5 = $ 320 Totals 642 units 428 units 2,104 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