Cost Flow Methods The following three identical units of Item Alpha are purchased during April: Item Alpha Units Cost Apr. 2 Purchase 1 $159 14 Purchase 1 160 28 Purchase 1 161 Total $480 $160 ($480 + 3 units) Average cost per unit Assume that one unit is sold on April 30 for $222. 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 methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost