5 3.75 points Skipped 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 eBook February 15 January 1 January 3 February 14 Sales Activities Beginning inventory Sales Purchase Units Acquired at Cost 240 units @ $2 Units Sold at Retail = $ 480 142 units @ $ 8 390 units @ $3 = $ 1,170 260 units @ $ 8 Ask June 30 November 6 November 19 Purchase Sales Purchase 290 units @ $4 = $ 1,160 236 units @ $ 8 References Totals 100 units 1,020 units @ $5 = $ 500 $ 638 units 3,310 Exercise 5-11 (Algo) Perpetual: Inventory costing methodsFIFO 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. Check my wo ! Required information Goods Purchased Date # of units Cost per unit # of units sold 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 Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost per Inventory Cost per Cost of Goods # of units unit Sold $ 0.00 unit Balance