Connect Homework Chapter 5 2 Required information Saved [The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Date January 1 Activities Beginning inventory 180 units January 3 Sales February 14 February 15 Purchase Sales 282 units Units Acquired at Cost @$2 $ 360 @ $3-$846 Units Sold at Retail 118 units @ $8 200 units Book June 38 November 6. Purchase Sales November 19 Purchase Totals 230 units 76 units 768 units @ $4 = $920 170 units @ $8 @ 58 @$5 = 380 $ 488 units 2,506 rences 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 Ending Inventory Cost of Goods Sold FIFO Required B < Prev 2 of 6 Next > Help Sa