WOW Cost Flow Methods The following the identical units of Item P401C are purchased during April Item Beta Units Cost April 2 1 $100 Purchase Purchase 15 120 20 Purchase 1 140 Total 3 $360 Average cost per unit $120 ($360 + 3 units) Assume that one unit is sold on April 27 for $300 Determine the grass profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LTFO), and (c) weighted average cost method. Gross Profit Ending Inventory A. First-in, first-out (FIFO) b. Last-In, first-out (LIFO) c. Weighted average cost Previous Next