Assume that Whitewall Tire Store completed the following perpetual inventory transactions for a line of tires: (Click the icon to view the transactions) Read the requirements Inventory on Hand Cost of Goods Sold Purchases Unit Total Unit Total Unit Total Cost Cost Cost Cost Quantity Cost Quantity Date Cost Quantity Dec. 1 11 23 26 29 Totals Calailator Total Cost More Info Dec. 1 Beginning merchandise inventory Dec. 11 Purchase Dec. 23 Sale Dec. 26 Purchase Dec. 29 Sale 24 tires @ $61 each 6 tires @ $76 each 16 tires @ $88 each 14 tires @ 586 each 17 tires @ $88 each Done Print 1414 Assume that Whitewall Tire Store completed the following perpetual inventory transactions for a line of tires Click the icon to view the transactions) Read the requirements Compute gross profit using the FIFO inventory costing method Gross profit is using the FIFO inventory costing method. Requirement 2. Compute cost of goods sold and gross profit using the LIFO inventory costing method. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing method. Enter each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of me inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Date Dec. 1 11 23 26 e Text Pages Calculator Assume that Whitewall Tire Store completed the following perpetual inventory transactions for a line of tires: Click the icon to view the transactions.) Read the requirements 26 29 Totals 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 we Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted average inventory cos balances after each transaction Once all of the transactions have been entered into the perpetual record, calculate the quantity Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Dec, 1 Assume that Whitewall Tire Store completed the following perpetual inventory transactions for a line of tires Click the icon to view the transactions) Read the regulamento Purchases Unit Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Date Quantity Cost Dec. 1 11 23 26 29 Totals Compute gross profit using the weighted average Inventory costing method Gross profit is using the weighted average inventory costing method Requirement 4. Which method results in the largest gross profit and why? The method results in the largest gross profit because during times of inventory prices, this method will produce the Most of goods sold