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 Units Sold at Retail 40 units $2 - $ 80 January 3 February 14 February 15 June 30 November 61 November 19 Sales Purchase Sales Purchase 30 units $8 70 units $3- $ 210 60 units $8 90 units $4-> $ 360 Sales 86 units $8 Purchase Totals 20 units $5- 220 units $ 100 $ 750 176 units Required: The company uses a perpetual inventory system. 1.Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 3. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below. Required A Required B Required C