Oct. $1$

Beginning merchandise inventory

$20$ tires @ $$63$ each

Oct. $11$

Purchase

$12$ tires @ $$87$ each

Oct. $23$

Sale

$18$ tires @ $$93$ each

Oct. $26$

Purchase

$14$ tires @ $$90$ each

Oct. $29$

Sale

$16$ tires @ $$93$ each

Compute cost of goods sold and gross profit using the FIFO inventory costing method.

$2.$

Compute cost of goods sold and gross profit using the LIFO inventory costing method.

$3.$

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.$)$

$4.$

Which method results in the largest gross$$ profit, and$$ why?