! 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 Activities Beginning inventory Sales February 14 Purchase February 15 June 30 November 6 November 19 Sales Purchase Units Acquired at Cost Units Sold at Retail 160 units @ $2 = $ 320 246 units @ $3 = $ 738 210 units @ $4 = $ 840 Sales 110 units @ $ 8 180 units @ $ 8 158 units @ $ 8 Purchase Totals 68 units @ $5 = $ 340 684 units $ 448 units 2,238 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 Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Periodic Inventory System FIFO Ending Inventory Cost of Goods Sold $ 16,048 $ 3,584 Required A Required B >