eBookShow Me How Question Content Area Cost Flow Methods The following three identical units of Item K113 are purchased during April:

Item Beta Units Cost

April 2 Purchase. 1 $100

April 15 Purchase. 1 102

April 20 Purchase 1 104

Total 3 $306

Average cost per unit $102 ($306 3 units)

Assume that one unit is sold on April 27 for $137. 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

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