Haresh !Required information[The following information applies to the questions displayed below.]Tree Seedlings has the following current-year purchases and sales for its only product.Units Acquired at Cost40 units @ $2 =DateJanuary 1January 3February 14February 15June 30November 6November 19ActivitiesBeginning inventorySalesPurchaseSalesPurchaseSalesPurchaseTotalsRequired:The company uses a perpetual inventory system.70 units90 units20 units220 units@ $3@ $4@ $5===$ 80Complete this question by entering your answers in the tabs below.$ 210$360$100$750Units Sold at Retail30 units60 units86 units176 unitsa. 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.@ $8@ $8@ $8

The inventory can be valued using various methods as FIFO, LIFO and average method. Using FIFO, the…

[The following information applies to the questions displayed below.] Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 40 units @ $2= @ $3 = Date January 1 January 3 February 14 February 15 June 30 November 6 November 19 Activities Beginning inventory Sales Purchase Sales Purchase Sales Purchase Totals equired: he company uses a perpetual inventory system. 70 units 90 units 20 units 220 units @$4= @$5= $80 $ 210 $360 $ 100 $750 Units Sold at Retail 30 units 60 units 86 units 176 units 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. @ $8 @ $8 @ $8