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--- Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 40 units @ $2 = $ 80

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--- Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 40 units @ $2 = $ 80 Units Sold at Retail 30 units @ $8 70 units @ $3 = $210 ped Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov.19 Purchase Totals 60 units @ $8 90 units @ $4 = $360 86 units @ $8 ook 20 units @ $5 = $100 220 units $750 176 units ences 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. Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. TH Next > Complete this question by entering your answers in the tabs below. Check my work Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO Inventory Balance Goods Purchased # of Cost per units unit Date Cost of Goods Sold of units Cost per Cost of Goods sold Inventon per Sold of units unit Balance January 1 40 @ $ 2.00 - $ 80.00 January 3 February 14 February 15 June 30 November 6

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