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Assume that B R Toys store bought and sold a line of dolls during December as follows: (Click the icon to view the transactions.) B R 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 Inventory on Hand Unit Total Unit Total Unit Total Date QuantityCostCost Quantity Cost Cost Quantity Cost Cost Dec. 1 Dec. 8 Dec, 14 108 Dec. 21 Totals More Info Dec. 1 Beginning merchandise inventory 12 units 9 each 9 units@ 22 each 14 units$14 each 13 units@ $ 22 each 8 Sale 4 Purchase 21 Sale Print Done