Three identical units of Item K113 are purchased during July, as shown below. Item K113 Units Cost July 9. Purchase 115717 Purchase 116826 Purchase 1 188 Assume that one unit is sold on july 31 for $260. Determine the gross profit for fuly using the first-in,first-out (FIFO) method. Add your answer Question 2 Three identical units of Item K113 are purchased during july, as shown below