The following three identical units of Item BZ1810 are purchased during November:

Assume that one unit is sold on November 30 for $90.
Determine the gross profit for November and ending inventory on November 30 using the
(a) First-in, first-out (FIFO);
(b) Last-in, first-out (LIFO);
(c) Weighted average cost methods.

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Item BZ1810 Units Cost $ 55 57 62 $174 Nov. 2 Purchase Purchase Purchase 14 28 Total Average cost per unit 58 ($174+3 units)