Answer Happy

nser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%2... û m 3.5 Simulation Three i Saved Help Save & Exit Submit Check my work Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost 50 units @ $2 - $100 Units Sold at Retail 34 units @ $8 78 units @ $3 @ = $234 Date Activities Jan. 1 Beginning inventory Jan. 3 Sales Feb. 14 Purchase Feb. 15 Sales June 30 Purchase Nov. 6 Sales Nov.19 Purchase Totals 68 units @ $8 100 units @ $4 = $400 92 units @ $8 24 units @ $5 = $120 252 units $854 194 units Required: 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 margin 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 Goods Sold Cost of FIFO $ 606 $ 248 < Required A Required B > Mc Graw Hill < Prey 2 of 10 Next >