Cost Flow Methods The following three identical units of Item JC07 are purchased during April: April 2 April 14 April 28 Total Average cost per unit Item JC07 Units Cost Purchase 1 $186 Purchase 1 189 Purchase 1 192 3 $567 $189 ($567 + 3 units) Assume that one unit is sold on April 30 for $263. 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 methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost