item Beta. Units. Cost

The following three identical units of items PX2T are purchased during April

April 2 Purchase 1 $104

April 15 Purchase 1 108

April 20. Purchase. 1. 112

Total. 3. $324

Average cost per unit. $108. ($324 ~ 3 units)

Assume that one unit is sold on April 27 for $152. 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

a. First-in, first-out (FIFO). Gross Profit. Ending Inventory

b. Last-in, first-out (LIFO)

c. Weighted average c