Cost flow methods The following three identical units of Item P401C are purchased during April: Apr. 2 Apr. 15 Apr., 20 Total Average cost per unit ($477 + 3 units) Item Beta Units Cost Purchase 1 $157 Purchase 1 159. Purchase 1 161 3 $477 $159 Assume that one unit is sold on April 27 for $215. Determine the gross profit for April and ending inventory on April 30 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) 320 b. Last-in, first-out (LIFO) c. Weighted average cost Check My Work 1 more Check My Work uses remaining All work saved Next >