Three identical units of merchandise were purchased during July, as follows: Date Product Units Cost July 3 Purchase 1 $17 10 Purchase 1 20 24 Purchase 1 23 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 (a) first in, first-out, (b) last-in, first-out, and (c) average cost flow methods Cost of Goods Sold Ending Inventory a. First-In, first-out Gross Profit b. Last-In, first-out c. Average Previou