Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 Activities Beginning inventory 170 units Units Acquired at Cost @ $2= Units Sold at Retail $ 340 January 3 Sales 114 units February 14 February 15 June 30 Purchase Sales 264 units @ $3= $ 792 190 units @ $ 8 @ $ 8 Purchase 220 units @ $4= $ 880 November 6 Sales 164 units @ $ 8 November 19 Purchase 72 units @ $5 = $ 360 Totals $ 726 units 468 units 2,372 Required: The company uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. >. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below.