Tree Seedlings has the following current-year purchases and sales for

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

Activities Units Acquired at Cost 40 units @ $2 = $ 80 Units Sold at Retall Date Beginning inventory.. Jan. 30 units @ $


Required

The company uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods soldusing

(a) FIFO

(b) LIFO.

(c) Compute the gross margin for each method.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...