al st * More Info Dec, 1 Beginning merchandise inventory Dec. 8 Salo Dec. 14 Purchase Dec. 21 Sale 14 units @ $8 each 8 units @ $24 each 16 units @ $14 each 14 units @ $24 each Print Done Inventory costing method. and gross profit using the FIFO inventory costing method. in ch Requirements nd X into 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. 2. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method. 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of ending merchandise inventory? 5. Which method results in a higher gross profit? ente Print Done Print ry, and gross profit using the LIFO inventory costing method