OBJ. 2 PE 7-1A Cost flow methods The following three identical units of Item A are purchased during April Item A Units Cost Apr. 2. Purchase 1 $ 68 14 Purchase 1 73 28 Purchase 1 75 3 $216 $ 72 (82163 units) Average cost per unit Total Assume that one unit is sold on April 30 for $118. Determine the gross profit for April and ending inventory on April 30 using the first-n, first-out (PIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods 03.1 PE 7-2A Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Widget are as follows: Mar.1 Inventory 200 units at $8 9 Sale 175 units 13 Purchase 160 units at 9 25 Sale 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, de termine (a) the cost of merchandise sold on March 25 and (b) the inventory an March 31