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Cost Flow Methods The following three identical units of Item JC 0 7 are purchased during April: Assume that one unit is sold on April

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Cost Flow Methods
The following three identical units of Item JC07 are purchased during April:
Assume that one unit is sold on April 27 for $249. 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.
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