Cost flow methods The following three identical units of Item P401C are purchased during April: Item Beta Units Cost Apr. 2 Apr. 15 Apr. 20 Total Average cost per unit ($654 + 3 units) Purchase 1 $217 Purchase 1 218 Purchase 1 219 3 $654 $218 Assume that one unit is sold on April 27 for $303. 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