Activities Beginning inventory Tree Seedlings has the following current-year purchases and sales for its only product....

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Activities Beginning inventory 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 80 units @ $2 = $ 160 January 3 February 14 Sales Purchase 46 units @ $ 8 102 units @ $3 = $ 306 February 15 Sales 100 units @ $ 8 June 30 Purchase 130 units @ $4 = $ 520 November 6 November 19 Sales Purchase. 110 units @ $ 8 Totals 36 units 348 units @ $5 = $ 180 $ 1,166 256 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 FIFO. Periodic Inventory System " FIFO Ending Inventory Cost of Goods Sold $ 404 $ 1,038 Required A Required B > Activities Beginning inventory 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 80 units @ $2 = $ 160 January 3 February 14 Sales Purchase 46 units @ $ 8 102 units @ $3 = $ 306 February 15 Sales 100 units @ $ 8 June 30 Purchase 130 units @ $4 = $ 520 November 6 November 19 Sales Purchase. 110 units @ $ 8 Totals 36 units 348 units @ $5 = $ 180 $ 1,166 256 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 FIFO. Periodic Inventory System " FIFO Ending Inventory Cost of Goods Sold $ 404 $ 1,038 Required A Required B >

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a Determine the costs assigned to ending inventory and to cost of goods sold using FIFO To calculate ... View the full answer