Question: Cost Flow Assumptions and Methods The following three identical units of Item P401C are purchased during Apni: ($753+3units) Assume that one unit is sold on

Cost Flow Assumptions and Methods The following three identical units of Item P401C are purchased during Apni: ($753+3units) Assume that one unit is sold on April 27 for $364. Determine the gross profit for Aprit and ending inventory on Aprl 30 using the (a) first ing, first-out (FIFO); (b) last-in, first-out (CIFO); and (c) weighted average cost method

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