Three identical units of merchandise were purchased during July, as follows:

Date	Product Basic H	Units	Cost
July 3	Purchase	1	$35
10	Purchase	1	36
24	Purchase	1	37
Total		3	$108
	Average cost per unit		$36

Assume one unit sells on July 28 for $45.

Determine the gross profit, cost of merchandise sold, and ending inventory on July 31 using the (a) first-in, first-out, (b) last-in, first-out, and (c) average cost flow methods.

	Gross Profit	Cost of Merchandise Sold	Ending Inventory
a. First-in, first-out	$	$	$
b. Last-in, first-out	$	$	$
c. Average	$	$	$