PE 7-1B Cost Flow Methods OBJ. 2 EE 7-1 The following three identical units of Item B are purchased during June: June Units 1 1 Item B 2 Purchase 12 Purchase 23 Purchase Total Average cost per unit Cost $140 152 158 1 3 $450 $150 ($450 - 3 units) Assume that one unit is sold on June 27 for $270. Determine the gross profit for June and ending inventory on June 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods