Use the following information for the Exercises below. Oct. 5 Sales Oct. 26 Purchase Exercise 5-7 Perpetual: Inventory costing methods-FIFO an d LIFO LO P1 2 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. 3. Compute the gross margin for FIFO method and LIFO method. 25 the costs assigned to ending inventory and to cost of goods sold using LIFO Hint $1000$2 000 00 htm O Type hete to serch 10 to seard