Assume that JL. Tire Store completed the following perpetual inventory tra (Click the icon to view the transactions.) Read the requirements Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, Purchaser Cost of Goods Sold Inventory on Hand Unit Total Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jul. 1 63 $ 1,260 11 12 5 87 $ 1,044 1,260 1,044 03 1818 14s 90 $ 1,260 1614 Totals Enter any number in the edit fields and then click Check Answer. 6 parts Clear All remaining 3 of 3 (2 complete) ory transactions for a line of tires: the FIFO inventory costing method. chandise record, ca * Requirements X he en Soods Sol Unit Cost Compute cost of goods sold and gross profit using the FIFO inventory costing method. Compute cost of goods sold and gross profit using the LIFO inventory costing method. 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.) Which method results in the largest gross profit, and why? Print Done nswer Clear All MacBook Air 3 of 3 (2 complete) actions for a line of tires: inventory costing method. CIC 0 More Info Jul. 1 Beginning merchandise inventory 11 Purchase 23 Sale 26 Purchase 29 Sale 20 tires @ $ 12 tires @ $ 18 tires @ $ 14 tires @ $ 16 tires @ $ 63 each 87 each 101 each 90 each 101 each Print Done Clear All