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 Activities Beginning inventory Units Acquired at Cost 160 units January 3 Sales November 6 February 14 February 15 June 30 November 19 Purchase Sales Purchase Sales Purchase 246 units @ $2 = $ 320 $3 = $ 738 110 units 180 units Units Sold at Retail @ $ 8 @ $ 8 210 units $4 = $ 840 158 units @ $ 8 68 units @ $5 = $ 340 $ Totals 684 units 448 units 2,238 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 C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO Required A Required B > 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 C 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 < Required A Required C > Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the gross profit for each method. FIFO LIFO Cost of goods sold Gross profit < Required B Required C Merchandise inventory Operating expenses Sales