Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 Purchase 1 $269 April 15 Purchase 1 273 09 April 20 Purchase 1 277 Total $819 Average cost per unit $273 ($819 - 3 units) Assume that one unit is sold on April 27 for $336. 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