+111-1111111 Three identical units of merchandise were purchased during July, as follows: Units Cost July 31 Purchase 1 $29 10 Purchase I 32 24 Purchase 1 35 Total 3 $96 Average cost per unit $32 Assume one unit sells on July 28 for $46. Determine the gross profit, cost of merchandise sold, and ending inventory on July 31 using the (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost flow methods. Gross Profit Cost of Merchandise Sold Ending Inventory a. First-in, first out b. Last-in, first out e. Weighted average cost 1000