solve with steps for 1-2-3-4

Learning Objective 3 E6-20 Comparing cost of goods sold and gross profitFIFO, LIFO, and weighted average methods Assume that JR Tire store completed the following perpetual inventory transactions for a line of tires: 1. COGS $2,072 Oct. 1 Beginning merchandise inventory Purchase Sale 20 tires @ $ 66 each 8 tires @ $ 73 each 11 23 15 tires @ $ 86 each 26 Purchase 13 tires @ $ 84 each 29 Sale 15 tires @ $ 86 each Requirements 1. 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