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 Beginning inventory January 3 Sales February 14 Purchase February 15 Sales June 30 Purchase Units Acquired at Cost Units Sold at Retail 160 units @ $2 = $ 320 246 units @ $3 = $ 738 210 units @ $4 = $ 840 November 6 Sales 110 units @ $ 8 180 units @ $ 8 158 units @ $ 8 November 19 Purchase Totals 68 units @ $5 = $ 340 684 units $ 448 units 2,238 Exercise 5-11 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 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 Required C Compute the gross profit for each method. Sales revenue Cost of goods sold Gross profit FIFO LIFO 0 $ 0 < Required B Required C >