Question: accountant work please explain if youre able and answer The following three identical units of Item P401C are purchased during April: Date Item Beta Units

accountant work please explain if youre able and answer

The following three identical units of Item P401C are purchased during April:

Date Item Beta Units Cost
Apr. 2 Purchase 1 $152
Apr. 15 Purchase 1 156
Apr. 20 Purchase 1 160
Total 3 $468
Average cost per unit ($468 3 units) $156

Assume that one unit is sold on April 27 for $220.

Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method.

Line Item Description Gross Profit Ending Inventory
a. First-in, first-out (FIFO) $ $
b. Last-in, first-out (LIFO) $ $
c. Weighted average cost $ $

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