Tree Seedlings has the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail January 1 Beginning inventory 240 units @ $2 = $ 480 January 3 Sales 142 units @ $ 8 February 14 Purchase 390 units @ $3 = $ 1,170 February 15 Sales 260 units @ $ 8 June 30 Purchase 290 units @ $4 = $ 1,160 November 6 Sales 236 units @ $ 8 November 19 Purchase 100 units @ $5 = $ 500 Totals 1,020 units