Tree Seedlings has the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 200 units @ $2 - $ 400 126 units @ $8 318 units @ $3 - $ 954 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 220 units e $8 250 units @ $4 = $1,000 182 units @ $8 84 units @ $5 852 units - $ 420 $2,774 528 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 C Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 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 200 @ $ 2.00 = $ 400.00 January 1 January 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased Cost of Goede Sold Inventory Balance of Date Cost per # of units Cost per cost of Goods Cost per # of units Inventory units unit sold unit Sold unit Balance January 200 @ $ 2.00 = $ 400.00 January 3 February 14 February 15 June 30 November November 19 Taas $ 0.00 Required A KERY Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Perpetual LIFO: Goods Purchased # of units unit Cost per Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Date Inventory Balance Cost per Inventory # of units unit Balance 200 @ $ 2.00 = $ 400,00 January 1 January 3 February 14 February 15 June 30 November 6 November 19 $ 0.00 Totals Tree Seedlings has the following current-year purchases and sales for its only product. Units sold at Retail Units Acquired at Cost 200 units @ $2 - S 400 126 units @ $8 318 units e $3 = $ 954 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 220 units @ $8 250 units @ $4 - $1,000 182 units @ $8 84units @ $5 852 units $ 420 $2,774 528 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 Compute the gross margin for each method. FIFO: LIFO: Sales revenue Cost of goods sold Gross margin $ 0 $ 0