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Exercise Planet began January with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Exercise Planet purchased and sold merchandise on account as follows: Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit 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 Cost of Goods Sold Inventory on Hand Unit Total Total Total Date QuantityCost Cost Quantity Cost Cost Quantity Cost Cost Jan. 1 156 64 18 114 75 8550 26 Data Table Jan. 5 Purchase 156 crates 64 each 180 crates96 each 18 Purchase 114 crates@ 75 each 150 crates118 each 13 Sale 26 Sale Print Done