! 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. Units Sold at Retail 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 Units Acquired at Cost 80 units @ $2 = $ 160 102 units @ $3 - $ 306 130 units @ $4 = $ 46 units @ $8 100 units @ $8 520 110 units @ $8 36 units @ $5 - $ 180 348 units $1,166 256 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 profit 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. Cost of Periodic Inventory System Ending Inventory Goods Sold FIFO Required A Required B Date (The following information applies to the questions displayed below. Tree Seedlings has the following current-year purchases and sales for its only product. Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 80 units @ $2 = $ 160 Jan. 3 Sales 46 units @ $8 Feb. 14 Purchase 102 units @ $3 - $ 306 Feb. 15 Sales 100 units @ $8 June 30 Purchase 130 units @ $4 - $ 520 Nov. 6 Sales 110 units @ $8 Nov. 19 Purchase 36 units @ $5 - $ Totals 348 units $1,166 256 units 180 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 profit 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 LIFO. Cost of Periodic Inventory System Ending Inventory Goods Sold LIFO