QUESTION 1 Use the following information to answer questions 1 to 6. Problem 1 Three identical units of Item Steele Plate are purchased during March, as shown below. Item Steele Plate Units Cost Purchase Mar. 10 Purchase 840 Mar. 19 Purchase 880 Total $2.550 $830 Assume that one unit is sold on March 23 for $1.125. Determine the gross profit for March and ending inventory on March 31 using (a) FIFO. (b) LIFO, and (c) average cost methods. Gross Profit under FIFO is equal to $_