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 Units Acquired at cost 90 units a $2 $ 18 Units Sold at Retail 66 units @$8 Date January 1 January 3 Tebruary 14 February 15 June 20 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase 12e units & $3 S 360 110 units 140 ulus 8 $4 $ 560 116 units 38 40 units & $5 Totals $ 2ee $ 1,380 390 units 292 units 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. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance Date Cost # of units Cost Cost of Goods #of units Cost: Inventory of units per unit sold per unit Sold per unit January 1 HA January 3 February 14 Total February 14 February 15 Total February 15 June 30 Total June 30 November 6 Total November November 19 Totals Prev 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. Units Acquired at cost 90 units @ $2$ 18e Units Sold at Retall 66 units @ $ 8 Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase 120 units @ $3 = $ 260 110 units SB 140 units $4 - $ 560 116 units a $ 8 40 units $S $ 200 $ 1,300 Totals 390 units 292 units 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. 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. Perpetual LIFO: Cost of Goods Sold # of units Cost Cost of Goods sold per unit Sold Goods Purchased # of units Cost per unit Date Inventory Balance LILLE DEN Cost Inventory # of units per unit Balance January 1 January 3 February 14 Total February 14 February 15 Total February 15 June 30 Total June 30 November 6 Total November 6 November 19 Totals