Cost Plow Methods The following three identical units of Item K113 are purchased during April: April 2 April 15 April 20 Item Beta Purchase Purchase Purchase Units 1 1 1 Cost $155 156 157 Total 3 $468 Average cost per unit $156 ($468 + 3 units) Assume that one unit is sold on April 27 for $209. Determine the gross profit for April and ending inventory on April 30 using the (a) first in, first-out (FFO); (b) last-in, first-out (LIFO), an (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 Check My Work 3 more Check My Work uses remaining Previous Next