Tree Seedlings has the following current-year purchases and sales for its only product. 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 Units Acquired at Cost Units Sold at Retail 230 units @ $2 - $ 460 138 units @ $8 372 units @ $3 $1,116 250 units @ $8 280 units @ $4 $1,120 220 units @ $8 96 units @ $5 $ 480 978 units $3,176 608 units Required: The company uses a perpetual inventory system .es 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. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Coeds Purchased of units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance of units Cost per inventory unit Balanc 230 @ $ 2.00 = $ 460.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 Totals Required Required B > Required A Required 8 Required Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: GOs Purch Cost of Goods Sold of Cost pe #of units Cost per Cost of Goods units unit sold unit Sold Date Inventory Balance of units Cost per Inventory unit Balance 230 @ $ 2.00 = $ 460.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 Totals Required A Required B Required Compute the gross margin for each method. FILO LIFO Sales revenue Cost of goods sold Gross margin