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Assume that BR. Tre Sibre complotod the following perpetaal inventory transactions for a line of tres: (1) iclick the icon to view the transactions.) Read the reguirements: Requirement 2. Computo cost of goods sodd and gross proff uting the LFO inventory costing method: Begin by computing the cost of goods sold and cost of ending merchandse inveotory using the Lifo invansory costing method. Enter the transactions in chrondogical order, carculating new invensory on hand balances afer each transaction. Once at of the transactions have been entered into the perpetual record, calculate the quanbly and total cost of merchandse inventicg purchased, sold, and an hand at the end of the period. (Enter the oldest inventory layers first) Compute gross proft using the Lif irventary costing method. Gross proft is vaing the LFO enversory costing method More info