Tree Seedlings has the following current-year purchases and sales for its only product.

Date			Activities		Units Acquired at Cost							Units Sold at Retail
	Jan.	1		Beginning inventory		50	units	@ $2	=	$	100
	Jan.	3		Sales									34	units	@ $8
	Feb.	14		Purchase		78	units	@ $3	=	$	234
	Feb.	15		Sales									68	units	@ $8
	June	30		Purchase		100	units	@ $4	=	$	400
	Nov.	6		Sales									92	units	@ $8
	Nov.	19		Purchase		24	units	@ $5	=	$	120
				Totals		252	units			$	854		194	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.

Check my work 12 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. 10 points Complete this question by entering your answers in the tabs below. Skipped eBook Required A Required B Required C Print Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. References Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO Check my work 12 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. 10 points Complete this question by entering your answers in the tabs below. Skipped eBook Required A Required B Required c Print Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. References Periodic Inventory System Ending Inventory Cost of Goods Sold LIFO Chapter 5 Homework Saved Help Save & Exit Submit Check my work 12 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. 10 points Complete this question by entering your answers in the tabs below. Skipped eBook Required A Required B Required c Print Compute the gross margin for each method. References Gross Margin FIFO LIFO