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 Activities Units Acquired at cost Units Sold at Retail Jan. 1 Beginning inventory 40 units # $2 - $ 80 Jan. Sales 30 units # $ Feb. 14 Purchase 70 units . $- $210 Feb. 15 Sales 60 units $8 June 30 Purchase 90 units . $4 - $360 Nov. 6 Sales 86 units e$ Nov.19 Purchase 20 units $5 - $100 Totals 220 units $750 176 units 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. Complete this question by entering your answers in the tabs below. Perpetual FIFO Goods Purchased of Cost of Goods Sold Hof units Cost per Cost of Goods sold Sold Date Cost per unit Inventory.Balance Cost per Inventory # of units unit Balance 40 @ $ 2.00 $ 80.00 January 1 January February 14 February 15 June 30 November November 19 Required information Perpetual LIFO Goods Purchased Date #of units January 1 January 3 February 14 Cost per unit Cost of Goods Sold #of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory # of units unit Balance 40 @ $ 2.00 $ 80.00 February 15 June 30 November 6 November 19 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 Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the gross profit for each method. FIFO: LIFO Sales revenue Cost of goods sold Gross profit 5 OS