2. Assume that JR Tire Store completed the following perpetual inventory transactions for a line of tires: May 1 Beginning merchandise inventory 16 tires @ $65 each 10 tires @ $78 each 11 Purchase 23 Sale 12 tires @ $90 each 26 14 tires @ $80 each Purchase Sale 29 15 tires @ $90 each Requirement: 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