answer exercie 5:12 using data in 5:11 above

Exercise 511 Perpetuati inventory costing methouti-firo and LiO P1 Required The compaay uses a perpetual inventory system. Determaipe the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (b) I.IFO. (c) Compote the gross profit for each method. Exercise 5-12 0. Refer to sales and porchases data from Exercise 5-1 and necent joarnal entries for Tree Seedling's sales. Perpetual Jourmakaing and purchases tansactions. Assume for this assigeriseit that the compary uses a perpetual inventory transactions P1 system and LIFO. All sales and pirchoses are made on asceunt, and no discounts afe offered. Exercise 5-11 Tree Seedlinss has the following current year purchases and sales for its only product. Perpetual: hnentory costing methods-FIFO and LFO P1 The company uses a perpetnal tiventary sysem. Determine the cosis assigned to ending inventory and to Required cost of goods sold using (a) FHFO and (b) LIFO. (c) Compate the gross profit for each method. Exercise 5.12 0 Refer to sales and purchases dati from Exercise 5.11 and record joumal entries for Tree Seedlings's sales Perpetual: Journalizing and purchases thansactions. Assume for this assignment that the company uses a perpetual inventory Perpetual: Journaizing system and LIFO, All sales and purchases are made on account, and no discounts are offered