Question Completion Status: Problem 1 Three identical units of Item Steele Plate are purchased during March, as shown below. Cost Units 1 Mar. 3 Mar. 10 Mar. 19 Total Item Steele Plate Purchase Purchase Purchase L 1 $830 8 40 8 80 $2.550 3 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. The Ending Inventory under LIFO is equal to $_ QUESTIONS 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 Purchase Purchase Purchase Units L 1 Mar. 3 Mar. 10 Mar. 19 Total Cost $830 840 8 80 $2,550 1 3 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 The Gross Profit under Average costing method is 5