Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 50 units Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Salesi Purchase Sales Purchase Sales Purchase Totals 78 units 100 units 24 units 252 units @ $2 = $ 100 @ $3 = @$4= @$5 $ 120 $ 854 = $ 234 $ 400 Units Sold at Retail @ $8 @ $8 @ $ 8 34 units 70 units 92 units 196 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 profit for each method.