Cost Flow Methods The following three identical units of Item Alpha are purchased during April: Item Alpha Units Cost Аpr. 2 Purchase 1 $76 14 Purchase 1 81 28 Purchase 83 Total 3 $240 Average cost per unit $80 ($240 + 3 units) Assume that one unit is sold on April 30 for $132. 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 methods. Gross Profit Ending Inventory a. First-in, first-out (FIFO) 1,

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing t…