Cost Flow Methods The following three identical units of Item JC07 are purchased during April: April 2 April 15 April 20 Total Item Beta. Units Cost Purchase 1 $239 Purchase 1 243 Purchase 1 247 3 $729 $243 ($729 +3 units) Average cost per unit Assume that one unit is sold on April 27 for $306. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-o (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