Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost 1 $288 April 2 April 15 Purchase Purchase Purchase 1 289 April 20 290 Total |-- $867 Average cost per unit $289 (5867 + 3 units) Assume that one unit is sold on April 27 for $405. 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 (UFO); 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