Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 Activities Beginning inventory January 3 Sales February 14 February 15 Purchase Sales 228 units Units Acquired at Cost 150 units @ $2 = $ 300 @ $3=> Units Sold at Retail 106 units @ $8 $ 684 170 units @ $8 June 30 November 6 November 19 Purchase Sales Purchase 200 units @ $4= $ 800 152 units @ $8 64 units @$5- $ 320 $ Totals 642 units 2,104 428 units 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 profit for each method. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Cost of Periodic Inventory System Ending Inventory Goods Sold LIFO Required information [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Activities Beginning inventory Date January 1 January 3 Sales February 14 Purchase February 15 June 30 Sales November 6 November 19 Purchase Sales Purchase Totals Units Acquired at Cost 150 units @ $2 = Units Sold at Retail $ 300 106 units 228 units $3 = $ 684 170 units @ $ 8 @ $ 8 200 units $4 = $ 800 152 units @ $ 8 64 units @ $5 = $ 320 $ 642 units 428 units 2,104 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 profit for each method. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the gross profit for each method. FIFO LIFO ! Required information Activities Beginning inventory [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 Units Acquired at Cost Units Sold at Retail 150 units @ $2 = $ 300 January 3 Sales 106 units @ $ 8 February 14 February 15 June 30 November 6 November 19 Purchase Sales Purchase Sales Purchase 228 units = @ $3 $ 684 170 units @ $ 8 200 units @ $4 = $ 800 152 units @ $ 8 64 units @ $5 = $ 320 $ Totals 642 units 428 units 2,104 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 profit for each method. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Periodic Inventory System Ending Inventory Cost of Goods Sold FIFO < Required A Required B >