Requirement 1. Compute the cost of yoods sold. cost of ending merchandise inventory, and gross profit using the FIFO inventory confirmathod Begin by computing the cost of goods sold and cost of ending merchandise viventory using the FIFO inventory conting metros. Enter the transactions in chronological order collig new inventory on hand balances atrach action Once all of the actions have been entered into the perpetrecord, calculate the quantity and total cost of merchandise inventory purchased sold, and on hand at the end of the period. (Enter the oldest any we frat) Purchase Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Requirements Date Quantity Cost Cost Quantity Cost Cost Quantity Cou Cost Dee Dec. 1. Compute the cost of goods sold out of ending merchandise inventory, and gross profit using the PFO inventory costing method Dec. 14 2. Compute the con of good cost of merchandise and gross prof using the LIFO inventory cosing method 3. Which method results in a higher cost of goods sold? Dec. 21 4. Which metod results in a higher cost of ending machinery 5. Wichhod results in a higher you pro Total Done Requirement 1. Compute the cost of yoods sold. cost of ending merchandise inventory, and gross profit using the FIFO inventory confirmathod Begin by computing the cost of goods sold and cost of ending merchandise viventory using the FIFO inventory conting metros. Enter the transactions in chronological order collig new inventory on hand balances atrach action Once all of the actions have been entered into the perpetrecord, calculate the quantity and total cost of merchandise inventory purchased sold, and on hand at the end of the period. (Enter the oldest any we frat) Purchase Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Requirements Date Quantity Cost Cost Quantity Cost Cost Quantity Cou Cost Dee Dec. 1. Compute the cost of goods sold out of ending merchandise inventory, and gross profit using the PFO inventory costing method Dec. 14 2. Compute the con of good cost of merchandise and gross prof using the LIFO inventory cosing method 3. Which method results in a higher cost of goods sold? Dec. 21 4. Which metod results in a higher cost of ending machinery 5. Wichhod results in a higher you pro Total Done