Read the requirements.

$\backslash$table$[[$Dec: $1$ Beginning merchandise inventory,$13,$units @ $ $11$ each$],[8$ Sale,$7,$units @ $ $18$ each$],[14$ Purchase,$15$ units @ $ $14$ each,$],[21$ Sale,$14$ units @ $ $18$ each,$]]$

Compute the gross profit using the using the FIFO inventory costing method.

Gross profit is using the FIFO inventory costing method.

Requirement $2.$ Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method. 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.$)$

$\backslash$table$[[$Date$,$Purchases,Cost of Goods Sold,Inventory on Hand$],[$Quantity$,\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]],$Quantity,$\backslash$table$[[$Unit$],[$Cost$]],\backslash$table$[[$Total$],[$Cost$]]],[$Dec$.1],[$Dec$.8],[$Dec$.14],[$Dec$.21],[$Totals$,,,,,,,,,]]$