Cost Flow Methods The following three identical units of Item PXZT are purchased during April: Item Beta Units Cost Purchase 1 $246 April 2 April 15 Purchase 1 248 April 20 Purchase 1 250 Total 3 $744 Average cost per unit $248 ($744 + 3 units) Assume that one unit is sold on April 27 for $355. Determine the gross profit for April and ending Inventory on April using the (a) first-In, first-out (FIFO); (b) last-In, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-In, first-out (FIFO) b. Last-In, first-out (LIFO) s $ C. Welghted average cost s $