Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 January 3. February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals Units Acquired at Cost Units Sold at Retail 90 units @ $2 - $ 180 66 units $ 8 120 units @ $3 = $ 360 110 units @ $ 8 140 units e $4 $ 560 116 units @ $ 8 40 units @$5$ 200 $ 390 units 292 units 1,300 The company uses a periodic inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. 3. Compute the gross profit for each method.