Requirement 1. Compute the cost of goods sold ost of ending merchandise mentory and gross prot using the FIFO inventory etsing method. Begin by coming the cost of goods sold and cost of andere mentory on the FIFO invertory costing method. Enter the transactions in chronological order, calculating new invertory on baterach transact Once all of the actions have been artered in the perpetual record, calculation and total cost of merchandisetory purchasol, and on hand at the end of the perder the oldest inventory left) Purchase Cast of Goods Sold Inventory on Hand Ut Total Unit Total Unit Total Moreire De Quant Cos Quantity Cost Cast Quantity Cost Cost Duct Due, Dec 1 Begeing hands ventory units 5 10 each Dec. 14 5 Sale units 5.24 14 Purchase 15 units 51ean Dec, 21 21 Sale 13 und 5 24 cach 11 Print Done