Cost flow methods The following three identical units of Item P401C are purchased during April: 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.

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Cost flow methods The following three identical units of Item P401C are purchased during April: 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.

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