Cost Flow Methods The following three identical units of Item PX2T are purchased during April

Cost Flow Methods The following three identical units of Item PX2T are purchased during April: April 2 April 15 April 20 Total Average cost per unit Item Beta Purchase Purchase Purchase Units Cost $186 187 $561 $187 ($561 * 3 units) Assume that one unit is sold on April 27 for $254. 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 First-in, first-out (FIFO) a. b. Last-in, first-out (LIFO) c. Weighted average cost