Requirement 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) More info \begin{tabular}{crl} \hline Dec. 1 Beginning merchandise inventory & 13 & units @ \$ 8 each \\ 8 Sale & 9 & units @ \$ 17 each \\ 14 Purchase & 17 & units @ \$ 13 each \\ 21 Sale & 15 & units @ \$ 17 each \\ \hline \end{tabular} Print Done