Saved Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb.14 Purchase Feb.15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase Units Acquired at Cost Units Sold at Retail 140 units @ $2 $ 280 102 units @ $8 210 units @ $3 $ 630 160 units @ $8 190 units @ $4 = $ 760 146 units @ $8 60 units @ $5 = $ 300 600 units $1,97 408 units Totals 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 margin for each method. Complete this question by entering your answers in the tabs below. ELE Goods Purchased Date # of units Cost per unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance # of units Cost per Inventory unit Balance 140 @ $ 2.00= $ 280.00 January 1 January 3 102 @ $ 2.00 $ 204.00 38 @ $ 2.00 $ 76.00 February 14 210 @ $ 3.00 38 @ $ 2.00 $ 76.00 210 @ $ 3.00 = 630.00 M $ 706.00 February 15 38 @ $ -2.00 $ 76.00 $2.00 $ 3.00 = @ $3.00 = 420.00 S496.00 June 30 UL November 6 November 19 November 6 November 19 Totals 700.00 Remired B January 1 140 @ $ 2.00 = $ 280.00 January 3 February 14 February 15 June 30 November 6 November 19 5 0.00 Totals Required A Required B Required c Compute the gross margin for each method. FIFO: LIFO: Sales revenue Cost of goods sold Gross margin 62 0 S