sume that Gameland store purchased and sold a line of dolls during December as follows Click the icon to view the transactions) and unes the perpetual inventory system ad the ent Requirement 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross prott using the FIFO inventory costing method begin by computing the cost of goods soit and cost of ending merchandise ventary using the FIFO inventory costing method. Enter the transactions in chronological order, calculating new invertory on hand balances after each transaction Once all of the transactions have been entered into the perpetual record, calculete the quantity and total cost of merchandise inventury purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers fret) Purchases Unt Cost of Goods Sold Total Unit T Inventory on Hand Unil Total Dale Quantity Cost Cost Quantity Cost Cost Quantity Cost Dec. 1 Dec Dec. 14 Dec 21 Tutale