Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 62 units @ $2 = $ 124 Units Sold at Retail 40 units @ $8 86 units @ $3 = $ 258 Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov. 19 Purchase Totals 76 units @ $8 180 units @ $4 = $ 720 106 units @ $8 30 units @ $5 = $ 150 358 units $1,252 222 units Required: The company uses a periodic 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the gross margin for each method. Gross Margin Sales Cost of goods sold Gross margin FIFO LIFO $ 1,776 $ 1,776 1,088 X $ 688 $ 1,776