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The following three identical units of Item K113 are purchased during April: April 2 April 15 April 20 Total Item Beta Units Cost Purchase

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The following three identical units of Item K113 are purchased during April: April 2 April 15 April 20 Total Item Beta Units Cost Purchase 1 $304 Purchase 1 305 Purchase 1 306 3 $915 $305 ($915 3 units) Average cost per unit Assume that one unit is sold on April 27 for $381. 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. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost

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