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Assume JR Tire, Inc., completed the following perpetual inventory transactions for a line of tires. (Click the icon to view the transactions.) Read the requirements.
Assume JR Tire, Inc., completed the following perpetual inventory transactions for a line of tires. (Click the icon to view the transactions.) Read the requirements. Requirements 1, 2, and 3. Compute cost of goods sold and gross profit using FIFO, LIFO, and average cost methods. (Round average cost per unit to the nearest cent and all other amounts to the nearest dollar.) FIFO Sales revenue 6480 Cost of goods sold Gross profit - X Data Table Beginning inventory 34 tires @ 175 Purchase 27 tires @ $ 169 Sale.. 36 tires @ $ 180 Print Done
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