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Okay so I tried doing the FIFO, LIFO and Weighted Average cost to determine the gross profit and ending inventory but somehow no matter how I compute the equation it ends up saying I am wrong. How do I compute this to get it correct?

Okay so I tried doing the FIFO, LIFO and Weighted Average cost to determine the gross profit and ending inventory but somehow no matter how I compute the equation it ends up saying I am wrong. How do I compute this to get it correct?

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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Okay so I tried doing the FIFO, LIFO and Weighted Average cost to determine the gross profit and ending inventory but somehow no matter how I compute the equation it ends up saying I am wrong. How do I compute this to get it correct?

Cost Flow Methods The following three identical units of Item PX2T are purchased during April: Item Beta Units Cost April 2 Purchase 1 $184 April 15 Purchase 1 186 April 20 Purchase 1 188 Total 3 $558 Average cost per unit $186 ($558 + 3 units) Assume that one unit is sold on April 27 for $251. 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. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost %24
Transcribed Image Text:Cost Flow Methods The following three identical units of Item PX2T are purchased during April: Item Beta Units Cost April 2 Purchase 1 $184 April 15 Purchase 1 186 April 20 Purchase 1 188 Total 3 $558 Average cost per unit $186 ($558 + 3 units) Assume that one unit is sold on April 27 for $251. 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. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost %24
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