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Need help please. I keep getting it wrong and I dont understand what I'm doing wrong. Thank you for your help! Assume DR Tire, Inc,
Need help please. I keep getting it wrong and I dont understand what I'm doing wrong. Thank you for your help!
Assume DR Tire, Inc, completed the following perpetual inventory transactions for a line of tires Click the loon to view the ansactions) Read the Requirements 1, 2 and 3. Computo cost of goods sold and gross proft using FIFO UFO und average cost method (Round average cost per unit to the nearest coint and all the amounts to the nearest dolar) FIFO Sales revenue Cont of goods sold Gross prof d grpce srofitucina EIEN LIEN and GMALAD.COct matbode (Dound Sorano coa carol centa - X Requirements 1. Compute cost of goods sold and gross profit under FIFO. 2. Compute cost of goods sold and gross profit using LIFO 3. Compute cost of goods sold and gross profit using average cost Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. 4. Which method results in the largest gross profit and why? Print Done EIEA LEO andavacaca cast mothado (Doundavarnas cact noruit to the form...... Data Table 26 tires @ $ 182 Beginning inventory Purchase 35 tires @ $ 184 Sale 40 tires @ $ 190 Print Done Step by Step Solution
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