Assume that JR Toys store purchased and sold a line of dolls during December as follows: (Click the icon to view the transactions.) JR Toys uses the perpetual inventory system. Read the requirements Requirement 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchase sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Purchases Unit Cost of Goods Sold Total Unit Total Inventory on Hand Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost 14 B 112 Dec. 1 Dec. Dec. 14 Dec 21 Totals