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Required information

Use the following information for the Exercises $11-13$ below. $($Static$)$

$[$The following information applies to the questions displayed below.$]$

Tree Seedlings has the following current$-$year purchases and sales for its only product.

Exercise $5-13$A $($Static$)$ Periodic: Inventory costing methods$-$FIFO and LIFO LO P$3$

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.

$\backslash$table$[[,$FIFO,LIFO$],[$Sales$,,],[$Cost of goods sold,,$],[$Gross profit,$$,$$