Tree Seedlings has the following current-year purchases and sales for its only product Units Acquired at Cost 60 units @ $2$120 Units Sold at Retail 38 units @ $8 86 units @ $3 $258 Date Activities Gan 1 Beginning inventory Jan. 3 Sales Feb 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase Totals 80 units @ $8 110 units @ $4 $440 98 units@ $8 28 units $5 284 units $140 $958 216 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. Saved Help Save & Exit Submit Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Date Inventory Balance Inventory # of units unit Balance 60 @ $ 200 = $ 120.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 Totals $ 0.00 cation.com/ext/map/index.html?_con=con&external browser=0&launchUd=https%253A%252F%252Fims.mheducation.com%252F... Saved Help Save & Exit Submit Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of units unit Date Ct per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Laventory Balance # of units Inventory unit Balance 60 @ $ 2.00 - $ 120.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 Totals 5 0.00 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 A Required B Required Compute the gross margin for each method. FIFO: LIFO: Sales revenue Cost of goods sold Gross margin $ 0$