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Cost Flow Methods The following three identical units of Item P 4 0 1 C are purchased during April: Assume that one unit is sold

Cost Flow Methods
The following three identical units of Item P401C are purchased during April:
Assume that one unit is sold on April 27 for $300.
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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