Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Purchase $155 Purchase 156 April 2 April 15 April 20 Total Purchase Average cost per unit ($468 + 3 units) Assume that one unit is sold on April 27 for $209. Determine the gross profit for April and ending inventory on April 30 using the (c) weighted average cost method. first in, first-out (FIFO); (b) last-in, first-out (LIFO); an Gross Profit Ending Inventory a. First in first out (FIFO) b. Last-in, forst-out (LIFO) c. Weighted average cost Check My Work 3 more Check My Work uses remaining Previous Next