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38 tires @ $ Beginning inventory 130 Purchase 16 tires @ $ 135 43 tires @$ 224 Sale.. FIFO Avg. Cost LIFO $ 9,632 $

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38 tires @ $ Beginning inventory 130 Purchase 16 tires @ $ 135 43 tires @$ 224 Sale.. FIFO Avg. Cost LIFO $ 9,632 $ 9,632 Sales revenue 5,615 5,670 Cost of goods sold $ Gross profit 3,962 4,017 $ EA

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