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The following three identical units of item K113 are purchased during April: Assume that one unit is sold on April 27 for $156. Determine the

The following three identical units of item K113 are purchased during April: Assume that one unit is sold on April 27 for $156. Determine the gross profit for April and ending inventory on April 30 using the FIFO, LIFO and weighted average cost method.

April 2Purchase1$111April 15Purchase1115April 20Purchase1119Total3$345Average cost per unit$115 ($345/3 units)

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