he following three identical units of Item P401C are purchased during April:

Date	Item Beta	Units	Cost
Apr. 2	Purchase	1	$112
Apr. 15	Purchase	1	115
Apr. 20	Purchase	1	118
Total		3	$345
Average cost per unit ($345 3 units)			$115

Assume that one unit is sold on April 27 for $166.

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.

Line Item Description	Gross Profit	Ending Inventory
a. First-in, first-out (FIFO)	$54	$
b. Last-in, first-out (LIFO)	$48	$
c. Weighted average cost	$51	$