Cost Flow Methods The following three identical units of Item LO3V are purchased during April:

Item Beta Units Cost
April 2 Purchase 1 $130
April 15 Purchase 1 132
April 20 Purchase 1 134
Total 3 $396
Average cost per unit $132 ($396 ÷ 3 units)
Assume that one unit is sold on April 27 for $164. 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.