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Three identical units of merchandise were purchased during July, as follows: Date Product Basic H Units Cost July 3 Purchase 1 $ 1 7 1

Three identical units of merchandise were purchased during July, as follows:
Date Product Basic H Units Cost
July 3 Purchase 1 $17
10 Purchase 120
24 Purchase 123
Total 3 $60
Average cost per unit $20
Assume one unit sells on July 28 for $30.
Determine the gross profit, cost of goods sold, and ending inventory on July 31 using the (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost flow methods.

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