Cost Flow Methods The following three identical units of Item JC07 are purchased during April: weighted average cost method. \begin{tabular}{lllll} & \multicolumn{2}{c}{ Gross Profit } & \multicolumn{2}{c}{ Ending Inventory } \\ \hline a. First-in, first-out (FIFO) & $ & X & $ & X \\ b. Last-in, first-out (LIFO) & $ & X & $ & X \\ c. Weighted average cost & $ & X & $ & X \end{tabular}