Question: HELP ASAP PLEASE!! Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost Purchase 1 $70

HELP ASAP PLEASE!!  HELP ASAP PLEASE!! Cost Flow Methods The following three identical units
of Item LO3V are purchased during April: Item Beta Units Cost Purchase

Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost Purchase 1 $70 Purchase 1 73 April 2 April 15 April 20 Total Purchase 1 76 --| $219 Average cost per unit $73 ($219 + 3 units) Assume that one unit is sold on April 27 for $102. Determine the gross profit for April and ending inventory on April 30 using the (o) first in, first-out (FFO); (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 Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 51 units $19 7 Sale 36 units 15 Purchase 60 units @ $20 24 Sale 19 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a)the cost of goods sold on October 24 and (b) the inventory on October 31 a. Cost of goods sold on October 24 b. Inventory on October 31

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