Cost Flow Methods

The following three identical units of Item P401C are purchased during April:

Item BetaUnitsCostApril2Purchase1$10015Purchase112020Purchase1140Total 3$360Average cost per unit$120($360 3 units)

Assume that one unit is sold on April 27 for $300.

how do i find the gross profit for April and ending inventory on April 30 using the (a) The method of inventory costing based on the assumption that the costs of goods sold should be charged against revenue in the order in which the costs were incurred.first-in, first-out (FIFO); (b) A method of inventory costing based on the assumption that the most recent inventory costs should be charged against revenue.last-in, first-out (LIFO); and (c) A method of inventory costing in which the cost of the units sold and in ending inventory is a weighted average of the purchase costs.weighted average cost method.

Gross ProfitEnding Inventorya. First-in, first-out (FIFO)_____$$b. Last-in, first-out (LIFO)$$____c. Weighted average cost$$______