Units Cost 1 $25 1 28 1 31 3 Three identical units of merchandise were purchased during July, as follows: Date Product T July 3 Purchase 10 Purchase 24 Purchase Total $84 Average cost per unit Assume one unit sells on July 28 for $40. 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 $28 Gross Profit a. First-in, first-out b. Last-in, first-out c. Average