PE 6-1B Cost flow methods Three identical units of Item Beta are purchased during June, as shown below.

$ 60 ($180 ÷ 3 units

What are the solutions for the below: Assume that one unit is sold on June 27, for $110.Determine the gross profit for June and ending inventory on June 30 using the (a) first-in, first-out (FIFO), (b) last-in, last-out (LIFO); and (c) weighted average and cost methods