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Cost Flow Methods The follawing three identical units of Item A are purchased during April: Item A Purchase Purchase Purchase Units Cost Apr. 2 14

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Cost Flow Methods The follawing three identical units of Item A are purchased during April: Item A Purchase Purchase Purchase Units Cost Apr. 2 14 28 Total Average cost per unit $68 73 75 $216 $72 ($216 3 units) Assume that one unit is sold on April 30 for $118 Determine the gross profit for April and ending inventory on April 30 using the (a) fint-in n to t (nF0), b) last in first ut uro); and (c) weg ted a rage cost methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c.Welghted average cost

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