Use the following information for the Exercises 11-13 below. (Static) [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 (Static) Perpetual: Inventory costing methods-FIFO and LIFO LO P1 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 profit for each method. etermine 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. Required information inoromnanw ieos a nornothal invontani cveram c. Compute the gross profit for each method. Complete this question by entering your answers in the tabs below. Compute the gross profit for each method