helping with completing the chart for FIFO and LIFO

Assume that Toy and store bought and sold a line of dolls during December as follows: 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 trapsactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual dacord, 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 Unit Cost Total Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost 11 0 99 Date Quantity Cost Dec. 1 Cost Cost 9 99 Assume that Toyland store bought and sold a line of dolls during December as follows: Date Quantity Cost Cost Quantity Cost Cost Quantity Dec. 1 11 Dec. 8 8 9 72 3 Dec. 14 14 13 182 3 14 27 9 9 27 13 182 3 9 27 13 Dec. 21 13 182 Totals 14 K: Cha More Info pre boug ew the tr tual inve Dec. 1 Beginning merchandise inventory Dec. 8 Sale ute the cd 11 units @ $9 each 8 units @ $16 each 14 units @ $13 each 13 units @ $16 each g method Dec. 14 Purchase Sale Dec. 21 cost of a nventory of merch transaction Jual record, c first.) Purcha Unit Print Done This DemoDocs Example Get More Help Clear All CH