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AssumeFisher Tire, Inc., completed the following perpetual inventory transactions for a line of tires. Beginning inventory. . . . . . 38 tires @ $130

AssumeFisher Tire, Inc., completed the following perpetual inventory transactions for a line of tires.

Beginning inventory. . . . . .

38

tires @

$130

Purchase. . . . . . . . . . . . . . .

16

tires @

$135

Sale. . . . . . . . . . . . . . . . . . .

43

tires @

$224

. Compute cost of goods sold and gross profit using FIFO, LIFO, and average cost methods. (Round the average cost per unit to the nearest cent and all other amounts to the nearest dollar.)

FIFO

Sales revenue

Cost of goods sold

Gross profit

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