Cost Flow Methods The following three identical units of Item PX2T are purchased during April: April 2 April 15 April 20 Total Average cost per unit Item Beta Units Cost Purchase 1 $242 Purchase 1 245 Purchase 1 248 3 $735 $245 ($735 + 3 units) Assume that one unit is sold on April 27 for $311. Determine the gross profit for April and ending inventory on April 30 using the (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