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 Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase Totals Units Acquired at Cost Units Sold at Retail 120 units @ $2 = $ 240 94 units @ $8 174 units @ $3 $ 522 140 units @ $8 170 units @ $4 $ 680 134 units @ $8 52 units @ $5 $ 260 516 units $1,702 368 units Required: The company uses a periodic inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. . Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. . Compute the gross profit for each method