{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-28T03:03:06-04:00", "answer_date": "2024-05-28 03:03:06", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1814762", "url": "\/study-help\/questions\/cost-flow-methods-the-following-three-identical-units-of-item-1814762", "question_creation_date_js": "2024-05-28T03:03:06-04:00", "question_creation_date": "May 28, 2024 03:03 AM", "meta_title": "[Solved] Cost Flow Methods The following three ide | SolutionInn", "meta_description": "Answer of - Cost Flow Methods The following three identical units of Item 3C07 are purchased during April: April 2 April 15 April | SolutionInn", "meta_keywords": "cost,flow,methods,three,identical,units,item,3c07,purchased,april,2,15", "question_title_h1": " Cost Flow Methods The following three identical units of Item 3C07 are purchased during April: April 2 April 15 April 201 Total Item Beta", "question_title": " Cost Flow Methods The following three identical units of Item 3C07", "question_title_for_js_snippet": "Cost Flow Methods The following three identical units of Item 3C07 are purchased during April April 2 April 15 April 201 Total Item Beta Units Cost Purchase 1 $133 Purchase 1 1341 Purchase 1 135 3 $402 Average cost per unit $134 ($402 3 units) Assume that one unit is sold on April 27 for $166 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) c Weighted average cost", "question_description": "\"image", "transcribed_text": "Cost Flow Methods The following three identical units of Item 3C07 are purchased during April: April 2 April 15 April 201 Total Item Beta Units Cost Purchase 1 $133 Purchase 1 1341 Purchase 1 135 3 $402 Average cost per unit $134 ($402 + 3 units) Assume that one unit is sold on April 27 for $166. 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) c. Weighted average cost", "related_book": { "title": "Fundamental accounting principle", "isbn": "1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587", "edition": "21st edition", "authors": "John J. Wild, Ken W. Shaw, Barbara Chiappetta", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/267.jpg", "uri": "\/textbooks\/fundamental-accounting-principle-21st-edition-267", "see_more_uri": "" }, "free_related_book": { "isbn": "9082737000", "uri": "\/textbooks\/bankers-are-people-too-how-finance-works-1st-edition-978-9082737004-186794", "name": "Bankers Are People Too How Finance Works", "edition": "1st Edition" }, "question_posted": "2024-05-28 03:03:06", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/the-assembly-department-of-interface-inc-manufacturer-of-computers-had-332086", "description": "The Assembly Department of Interface, Inc., manufacturer of computers, had 4500 units of beginning inventory in September, and 8000 units wore transferred to it from the Production Department. 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