ventory and aross profit using the FIFO inventory.costing method entory us and tota i More Info - X alculating new (Enter the old tal Dec. 1 Beginning merchandise inventory 13 units @ $ 9 each st 8 Sale 8 14 Purchase 15 units @ $ 20 each units @ $ 13 each units @ $ 20 each 21 Sale 14 Print Done invent -X * Requirements Jentor ly and plating new hter the olde Total Cost 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method 2. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the LIFO inventory costing method 3. Which method results in a higher cost of goods sold? 4. Which method results in a higher cost of ending merchandise inventory? 5. Which method results in a higher gross profit? Print Done Requirement 1 con el pecho con trong news proting the Food og comptanto son contenidorsing home the reaction word invertory on hand acestor chance of the entered the content med vorheen the periode de Terrest Purchases Cost of Goods Sold Inventory on Hand Un To Und Total Total Dante Quanty Con Cost Duantity Cost Cost Cost Cont D Deco Dec Dr. 21 Category Comet Enterrumber in the fields and come to the next gestion Heathe Camo FF rycosting met Forcon method Requirement Computers and merchandise for doing weighted Bags by recomand contenente y comercing now very on hand where to cewe ve been to the theory and welcome to contended to protect you Purchase Cost of Good to Inventory on Hand Ult UNI Total Unit Total Date Quan Cast Cost Quantity Cost Quantity Cost Det De De 14 De 24 Assume that Toys Galore store purchased and sold a line of dolls during December as follows: (Click the icon to view the transactions.) Toys Galore uses the perpetual inventory system Read the requirements Dec. 21 Totals Compute the gross profit using the using the LIFO inventory costing method Gross profit is using the LIFO inventory costing method Requirement 3. Which method results in a higher cost of goods sold? The method with the higher cost of goods sold is Requirement 4. Which method results in a higher cost of ending merchandise inventory? The method with the higher cost of ending merchandise inventory is Requirement 6. Which method results in a higher gross prom? The method with the higher gross profit is FIFO LIFO neither they are equal Enter any number in the edit fields and then continue to the next