Requirement $1.$ Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. 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$.1,,,,,,,13,11,143],[$Dec$.8,,,,6,18,108,7,11,77],[$Dec$.14,14,15,210,,,,7,11,77],[,,,14,15,210],[$Dec$.21,,,,,,,7,11,77],[$Totals$,,,,,,,,,]]$

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

Gross profit is using the FIFO inventory costing method.

Transactions

$\backslash$table$[[$Dec$.1$ Beginning merchandise inventory,$13,$units @ $$,11$ each$],[8$ Sale,$6,$units @ $ $18$ each,$],[14$ Purchase,$14,$units @ $ $15$ each,$],[21$ Sale,$13,$units @ $ $18$ each,$]]$