Three identical units of merchandise were purchased during March, as shown: Units Cost $830 Mar. 3 1 Steele Plate Purchase Purchase Purchase 10 1 840 19 1 880 Total 3 $2,550 Assume that one unit is sold on March 23 for $1,125. Determine the gross profit for March and ending Inventory on March 31 using (a) FIFO, (b) LIFO, and (c) average cost methods. Gross Profit Ending Inventory a. First-In, first-out (FIFO) 295 1,720 b. Last-in, first-out (LIFO) 285 1,710X C. Average cost 275 1,700