Dec 1 Beg merchandise inventry 13 units @ $ 9 each

Dec 8 sale 8 units @ $ 22 each

Dec 14 Purchase 16 units @ 14 each

Dec 21 Sale 14 units @ $22 each

1. Compute the cost of cost of goods sold, cost of ending merchandise inventory using the FIFO inventory costing method.

	Purchases			Cost of Goods Sold				Inventory on Hand
Date	Quantity	Unit	Total Cost	Quantity	Unit	Total Cost			Unit	Total Cost
		Cost			Cost			Quantity	Cost
Dec. 1								13 units	$ 9	= $117	$ 117
8				8 units	$ 9	= $ 72	$ 72	5 units	$ 9	= $45	$ 45
14	16 units	$ 14	= $ 224					5 units	$ 9	= $45	$ 269
								16 units	$ 14	= $224
21				5 units	$ 9	= $ 45	$ 171				$ 98
				9 units	$ 14	= $ 126		7 units	$ 14	= $98
Totals	16 units		$224	22 units			$243	7 units			$ 98

Can someone explain me how we got the answer step by step please.