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

Date Activities Units Acquired at Cost Units Sold at Retail

Jan. $1$ Beginning inventory $80$ units @ $$2=$ $ $160$

Jan. $3$ Sales $46$ units @ $$8$

Feb. $14$ Purchase $102$ units @ $$3=$ $ $306$

Feb. $15$ Sales $100$ units @ $$8$

June $30$ Purchase $130$ units @ $$4=$ $ $520$

Nov. $6$ Sales $110$ units @ $$8$

Nov. $19$ Purchase $36$ units @ $$5=$ $ $180$

Totals $348$ units $ $1,166256$ units

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.