Cost Flow Methods The following three identical units of Item JC07 are purchased during April: Item Beta Units Cost April 2 Purchase 1 $227 April 15 Purchase 1 230 April 20 Purchase 1 233 Total 3 $690 Average cost per unit $230 ($690 + 3 units) Assume that one unit is sold on April 27 for $292. 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 Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost