Cost Flow Methods The following three identical units of Item JC07 are purchased during April: Item Beta Units Cost April 2 Purchase $122 April 15 Purchase 126 April 20 Purchase 130 Total m $378 Average cost per unit $126 ($378 - 3 units) Assume that one unit is sold on April 27 for $180. 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) b. Last-in, first-out (LIFO) LA c. Weighted average cost