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Required information [The following information applies to the questions displayed below.] Tree Seedlings has the...

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Accounting

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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 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 Units Acquired at Cost Units Sold at Retail 140 units @ $2 - $ 280 102 units @ $8 210 units @ $3-$ 630 160 units @ $8 190 units $4 = $760 146 units @ $8 6 units @ $5 $300 600 units $1,970 408 units 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. Complete this question by entering your answers in the tabs below. Required A Required B Required C

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