LIFO FIFO AVERAGE-COST The ending inventory 2524 2876 2690 The cost of goods sold 7921 7569 7755 Gross profit 1857 2209 2023 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 2 of 3 used v (a3) X Your answer incorrect. Try again. Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%) LIFO FIFO AVERAGE-COST Gross profit rate 23.4 % 29.2 % 26.9 %