Requirenent 2. Compute cott of goods nold and gross proft uting De LFO inventory costing method Begin by computing the cobt of goods sold and coot of ending merchandise inventory using the LiFO invertory costing mothod. Enter the transtctions in chronciogical orter, eatcalating nefe sold. and on hand at the end of the peried. (Enter the oldest imventory layers fint) More info