Tree Seedlings has the following current-year purchases and sales for its only product. Units Sold at Retail 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 130 units @ $2 = $ 260 192 units @ $3 = $ 576 180 units @ $4 -S720 98 units @ $8 150 units @ $8 140 units @ $8 56 units @ $5 558 units $ 280 $1,836 388 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 margin for each method. Perpetual Fifo Goods Purchased of units unit Cost per Cost of Goods Sold # of units Cont per cont of Goods sold unit Sold Date Inventory Balance # of units Cost per Inventory unit Balance 130 @ $ 2.00 - $ 200.00 d January 1 January 3 February 14 February 15 June 30 November November 19 Total Perpetual LIFO: Goods Purchased of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Cost per Inventory of units unit Balance 130 @ $ 2.00 - $ 260,00 Date January 1 January 3 February 14 February 15 June 30 November November 19 Totals Required A Required B Required C Compute the gross margin for each method. FIFO: LIFO: Sales revenue Cost of goods sold Gross margin