Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost Units Sold at Retail 170 units @ $2 = $ 340 264 units@ $3 $ 792 220 units @ $4 880 72 units @ $5 726 units Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Feb. 15 June 30 Nov. 6 Sales Nov.19 Purchase Totals Purchase Sales. Purchase. Required: The company uses a perpetual inventory system. $ = $360 $2,372 114 units @ $8 190 units @ $8 164 units @ $8 468 units 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.