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 31 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Units Acquired at Cost Units Sold at Retail, 60 units @ $2 $ 120 38 units $8 86 units @ $3= $ 258 80 units @$8 110 units @ $4= $ 440 98 units @$8 Purchase 28 units Totals 284 units $5- $ 140 $ 958 216 units Purchase Sales 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