Cost Flow Methods The following three identical units of Item LOJV are purchased during April: Item Beta Units Cont April 2 Purchase 1 $285 April 15 Purchase 1 289 April 20 Purchase 1 293 Total 3 5867 Average cost per unit $289 (5867 3 units) Assume that one unit is told on April 27 for $410. Determine the gross profit for Art and ending inventory on April 30 using the interest out (Fros: (H) Last fint-out (LFOand (c) weighted average cost method. Gross Profit Ending Inventory 266 x 257 X a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 46 X 410X c. Weighted average cost 50 x 414 X fac Check My World a. Saiet-cost of goods sold gross profit. FIFO means that the testunits purchased are assumed to be the first to be said. Therefore ending inventory is made up of the most