inst Draw is the OU Come to contingere angesproklung FIFO motory costing and the Father the traction in chronological order can now wory on hand balances thereach transaction Durante per cada curcando neto purchased, old, and on hand at the end of the rod (Finte e che inventory went Purchase Costo de unt Total Une Tul HE Total Du Cot Cost Quay Cost Cost CE Det 20 - X Requirements plculating new inventory on hand be d of the period. (Enter the oldest in Content of goods ofending med Yound the cost of goods and out of ending me montre into the perpetrece Perchas Un Cut Coat of Good Unit Cost 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method 2. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of onding merchandise inventory? 5. Which method results in a higher gross profit? Total Cout 14 Print Done - X calculating new inventory on hand balances are end of the period. (Enter the oldest inventory layer More info Come cost of goods Boostending the y me of goods old and cost of ending merchandi Nations have been in the perpetual cord Cost of Goods Unit Coat Dec. 1 Beginning merchandio inventory 8 Sale 14 Purchase 215 12 units @ $ 8each 9 hits@ $ 17each 17 units GS 13 sach 15 units @ $ 17each Quantity Cool Cout Det De XP Print Done Det RB Toys use the perpetua inventory system Read the Requirement 1: Compute the cost of goods sold out of ending merchandise matory, and group in the FIFO Inventory coating med egin by computing the cont of gods sold and cost of ending merchandise intory using the PFO inventory costing methodologically and be Once all of the transactions have been entered into the per record clue the quantity and total cost of merchandise od on hand at the adopted by wat Purchases Cost of Good Gold Inventory on Hand Unit Total Unit Total Unit Total Dute Quant Cost Cost Quantity Com Cost Quantity Gost Cost Dec Deco Den 14 Dec. 21 Tuta - herch Requirements - X char eco biculating new inventory on hand balance of the period. (Enter the oldest inventor ood nit 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. 2. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method. 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of ending merchandise inventory? 5. Which method results in a higher gross profit? ost Print Done - X More info jalculating new inventory on han ld of the period. (Enter the oldes 12 Dec, 1 Beginning merchandise inventory 8 Sale 9 units @ $ 8 each units @ $ 17 each units @ $ 13 each units @ $ 17 each 14 Purchase 17 21 Sale 15 Print Done