Required information Use the following information for the Exercises 11-13 below. (Algo) [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 February 14 February 15 June 30 November 6 November 19 Sales Purchase Sales Activities Beginning inventory Units Acquired at Cost 110 units $2 $ 220 Units Sold at Retail 90 units 156 units @ $3 - $ 468 130 units 8 $ 8 @ $ 8 160 units. $4 $640 128 units $8 48 units $5 = $ 240 $ Totals 474 units 348 units 1,568 Purchase Sales Purchase Exercise 5-13A (Algo) Periodic: Inventory costing methods-FIFO and LIFO LO P3 The company uses a periodic 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 FIFO. Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO Required A Required B > of 3 ok Required information Use the following information for the Exercises 11-13 below. (Algo) [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 Units Acquired at Cost Units Sold at Retail Beginning inventory 110 units $2 - $ 220 January 3 February 14 February 15 June 30 November 6 November 19 Sales Purchase. Sales Purchase Sales Purchase 90 units $8 156 units 160 units $3 - $ 468 $4-$640 130 units $ 8 128 units e $8 48 units $5 - $ 240 $ Totals 474 units 348 units. 1,568 Exercise 5-13A (Algo) Periodic: Inventory costing methods-FIFO and LIFO LO P3 nces The company uses a periodic 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. Periodic Inventory System Ending Inventory Cost of Goods Sold LIFO < Required A Required C > ! Required information Use the following information for the Exercises 11-13 below. (Algo) [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 11 January 3 February 141 February 15 June 30 November 6 November 19 Sales Purchase Sales Activities Beginning inventory Units Acquired at Cost Units Sold at Retail 110 units e $2 = $ 220 90 units 8 $8 156 units $3$ 468 130 units 8 $ 8 160 units @ $4 $640 128 units @ $ 8 48 units $5$ 240 $ Totals 474 units 348 units 1,568 Purchase Sales Purchase Exercise 5-13A (Algo) Periodic: Inventory costing methods-FIFO and LIFO LO P3 The company uses a periodic 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 Compute the gross profit for each method. FIFO LIFO < Required B Required C>