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Cost Flow Methods The following three identical units of Item K 1 1 3 are purchased during April: Assume that one unit is sold on

Cost Flow Methods
The following three identical units of Item K113 are purchased during April:
Assume that one unit is sold on April 27 for $145. 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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