Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals Units Acquired at Cost Units Sold at Retail 40 units @ $2 - $ 80 30 units @ $8 70 units @ $3 $ 210 60 units $8 98 units @ $4 - $360 86 units @ $8 28 units @ $5 - $ 100 220 units 5.750 176 units equired: he company uses a perpetual inventory system m. 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. c. Compute the gross profit for each method. Required A Required B Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Goods Purchased Perpetual FIE Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Cost per Inventory Balance Cost per Inventory of units un Balance #of units unit January 1 January 3 February 14 Total February 14 February 15 Total February 15 Jurie 30 February 15 Total February 15 June 30 Total June 30 November 6 Total November November 19 Totals 0.00 Required Goods Purchased Date Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Loventory Balance Inventory #of units unit Balance Cost per Hof units unit January 1 January 3 February 14 Total February 14 February 15 Total February 15 June 30 Total June 20 November 6 Required information Total June 30 November 6 Total November 6 November 19 Totals $ 0.00 Compute the gross profit for each method. FIFO LIFO Sales revenue Cost of goods sold Gross profit $ 0 $ 0