Cost Flow Methods The following three identical units of Item Alpha are purchased during April: Apr. 2 14 28 Total Item Alpha Purchase Purchase Purchase Average cost per unit Units a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Assume that one unit is sold on April 30 for $89. tA 1 1 $ tA 1 ta 3 Gross Profit Cost Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, methods. $72 000 73 $219 74 $73 ($219 3 units) Ending Inventory tA +A A 000

Cost Flow Methods The following three identical units of Item Alpha are purchased during April: Assume that one unit is sold on April 30 for $89. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in methods