The following three identical units of Item LO3V are purchased during April:

Item Beta Units Cost

April 2 Purchase 1 $96

April 15 Purchase 1 100

April 20 Purchase 1 104

Total 3 $300Average cost per unit$100($300 3 units)

Assume that one unit is sold on April 27 for $134. 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 ProfitEnding Inventory

a. First-in, first-out (FIFO) $ $

b. Last-in, first-out (LIFO) $ $

c. Weighted average cost $ $