Use the following information for the Exercises 11-13 below. (Algo) [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Exercise 5-11 (Algo) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 required: he company uses a perpetual inventory system. D. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. . Determine the costs assigned to ending inventory and to cost of goods sold using LIFO, 2. Compute the gross profit for each method. (1) Required information Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. \begin{tabular}{|l|l|l|} \hline Sales revenue & FIFO & LIFO \\ \hline Cost of goods sold & & \\ \hline Gross profit & & \\ \hline \end{tabular}