glgelow.lU/llm/takeAssignment/takeAssignmentMain.do?invoker-assignments&itakeAssignmentSessionLocator- 3-2 Problem Set: Chapters 5 and 6 eBook Show Me How Cost Flow Methods The following three identical units of Item P401C are purchased during April: Item Beta Units Cost April 2 15 20 Total Average cost per unit Purchase1 $100 Purchase 1 120 Purchase1140 3 $360 $120 ($360 + 3 units) Assume that one unit is sold on April 27 for $300. 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 (LuFO) and (e) weighted average cost method Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost