answer for 5-13A (periodic methods)

Exercise 5-11 Perpetual: Inventory costing methods-FIFO and LIFO MP1 Tree Seedlings has the following current year purchases and sales for its only product. Required The company uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using ( a ) FIFO and (b) LIFO. (c) Compute the gross profit for each method. Exercise 5-13 Periodic: Inventory costing methods-FIFO and LIFO [ P3 Refer to the information in Exercise 5-11 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold using ( a ) FIFO and ( b ) LIFO. (c) Compute the gross