Cost Flow Methods The following three identical units of Item K113 are purchased during April: April 2 April 14 April 28 Total Average cost per unit Item K113 Units Cost Purchase 1 $286 Purchase 1 290 Purchase 1 294 $870 $290 ($870 + 3 units) Assume that one unit is sold on April 30 for $394. Determine the gross profit for April and ending inventory on April 30 using the (6) first-in, first-out (FIFO); (b) last-in first-out (LIFO); and (c) weighted average cost methods. a. First-in, first-out (FIFO)) b. Last-in, first-out (LIFO) c. Weighted average cost Gross Profit Ending Inventory