Steele Plate Units Cost AC U = 8 50 Page 4 of 7 . 850 (2550 3) Mar. 3 Purchase 10 Purchase 19 Purchase 1 $830 840 880 3 $2,550 Total 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 Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) $ c. Average cost