1.

Compute cost of goods sold and gross profit using the FIFO inventory costing method.

2.

Compute cost of goods sold and gross profit using the LIFO inventory costing method.

3.

Compute cost of goods sold and gross profit using the weighted-average inventory costing method. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.)

4.

Which method results in the largest gross profit, and why?

0 More Info May 1 Beginning merchandise inventory 11 Purchase 23 Sale 26 Purchase 22 tires @ 14 tires @ 18 tires @ 10 tires @ 19 tires @ $ $ $ $ $ 53 each 71 each 86 each 74 each 86 each 29 Sale Print Done