! 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 Totals Units Acquired at Cost Units Sold at Retail 140 units @ $2$ 280 @ $3$ 630 210 units 190 units 60 units 600 units @ $4 = $ 760 @ $5 = $ 300 Complete this question by entering your answers in the tabs below. 1,970 102 units 160 units 146 units 408 units 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. @ $8 @ $ 8 @ $ 8

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. 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 beyow