Cost Flow Methods The following three identical units of Item PX2T are purchased during April: Item Beta Units Cost Purchase 1 $218 April 2 April 15 April 20 Purchase 1 219 Purchase 1 220 Total 3 $657 Average cost per unit $219 ($657 = 3 units) Assume that one unit is sold on April 27 for $315. 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 Re Updates Ready to Install Do you want to restart to install these updates now or try tonight? /ilrn/takeAssignment/takeAs L Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 68 units @ $21 7 Sale 49 units 15 Purchase 78 units @ $24 24 Sale 23 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a)the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31 he