Three identical units of merchandise were purchased during July, as follows: Date Product Units Cost July 3 Purchase 1 $36 10 Purchase 1 39 24 Purchase 1 42 Total 3 $117 $39 Average cost per unit Assume one unit sells on July 28 for $55 Determine the gross profit, cost of goods sold, and ending inventory on July 31 using (a) first-in, first-out, (b) last-In, first-out, and (c) average cost flow methods. Gross Profit Cost of Goods Sold Ending Inventory a. First-In, first-out b. Last-in, first-out c. Average