Assume that RB Toys store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions.) RB 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 purchased, sold, and on hand at the end of the period (Enter the oldest inventory layers first.) Purchases Cost of Goods Sold arch Unit Total Unit Total Inventory on Hand Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Dec. 1 Dec. 8 Help me solve this Demodocs example Get more help 99- Clear all Check answer 81F