Required information [The following information applies to the questions displayed below] Tree Seedlings has the following...

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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 Activities Beginning inventory Sales February 14 Purchase February 15 Sales Units Acquired at Cost Units Sold at Retail 210 units @$2 $420 130 units 858 336 units 053- $ 1,008 230 units 850 June 30 1 November 6 Purchase 260 units $4 $ 1,040 November 19 Sales Purchase 188 units 058 88 units $55 440 $ Totals 894 units 548 units 2,908 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. 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 Activities Beginning inventory Sales February 14 Purchase February 15 Sales Units Acquired at Cost Units Sold at Retail 210 units @$2 $420 130 units 858 336 units 053- $ 1,008 230 units 850 June 30 1 November 6 Purchase 260 units $4 $ 1,040 November 19 Sales Purchase 188 units 058 88 units $55 440 $ Totals 894 units 548 units 2,908 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.