Assume that AB Tire Store completed the following perpetual inventory transactions for a line of tires: i) (Click the icon to view the transactions.) Read the requirements. Compute gross profit using the LIFO inventory costing method. Gross profit is using the LIFO inventory costing method. Requirement 3. Compute cost of goods sold and gross profit using the weighted-average inventory costing method. (Round weighted average cost per to the nearest dollar.) Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted-average inventory costing method. Enter the th new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity a purchased, sold, and on hand at the end of the period. ssume that AB Tire Store completed the following perpetual inventory transactions for a line of tires: i) (Click the icon to view the transactions.) Read the requirements