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Cost flow methods The following three identical units of Item P 4 0 1 C are purchased during April: DateItem BetaUnitsCostApr. 2 Purchase 1 $

Cost flow methods
The following three identical units of Item P401C are purchased during April:
DateItem BetaUnitsCostApr. 2Purchase1$109Apr. 15Purchase1112Apr. 20Purchase1115Total3$336Average cost per unit ($3363 units)$112
Assume that one unit is sold on April 27 for $142.
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.

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