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 50 units @ $2 = $100 78 units @ $3 - $234 100 units @ $4 = $400 24 units @ $5 = $120 252 units $854 34 units @ $8 70 units @ $8 92 units @ $8 196 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. 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: Goods Purchased Cost of Goods Sold Inventory Balance # of Cost per # of units Date Cost per Cost of Goods Cost per units Invent sold # of units unit Sold unit Balar January 1 50 @ $ 2.00 = S January 3 February 14 unit Perpetual FIFO: Goods Purchased #of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 50 @ $ 2.00 = $ 100.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 5 Totals 0.00 Required A Required B Required Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO Goods Purchased # of Cost per units unit Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 50 @ $ 2.00 - $ 100.00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 $ 0.00 Totals Required: The company uses a perpetual inventory kystem. 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 C Compute the gross margin for each method. FIFO: LIFO: Sales revenue Cost of goods sold Gross margin $ 0 $