Tree Seedlings has the following current-year purchases and sales for its only product. Units Sold at Retail Date Jan. 1 Beginning inventory Jan. 3 Sales Feb.14 Purchase Feb.15 Sales June 30 Nov. 6 Nov.19 Activities Purchase Sales Purchase Totals Units Acquired at Cost 90 units @ $2 = $ 180 Required A Required B Required C Date 120 units @ $3 Required: The company uses a perpetual inventory system. 140 units @ $4 40 units @ $5 390 units Goods Purchased # of units = $ = $ = $ Cost per # of units unit sold 360 560 200 $1,300 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. 66 units @ $8 Complete this question by entering your answers in the tabs below. 110 units @ $8 116 units @ $8 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Cost of Goods Sold Cost per unit 292 units Cost of Goods Sold Inventory Balance Cost per unit # of units Inventory Balance

Perpetual FIFO: Porpetual LIFO: Tree Seedlings has the following current-year purchases and sales for its only product. 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. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Required: The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sol b. Determine the costs assigned to ending inventory and to cost of goods sol c. Compute the gross margin for each method. Complete this question by entering your answers in the tabs below. Compute the gross margin for each method