0 Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 100 units $50.00 per unit Mar. 5 Purchase 400 units@ $55.00 per unit Mar. 9 Sales 420 units@ $85.00 per unit Mar. 18 Purchase 120 units@ $60.00 per unit Mar. 25 Purchase 200 units@ $62.00 per unit Mar. 29 Sales 160 unitse $95.00 per unit Totals 820 units 588 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. (Round weighted average cost per unit to two decimals.) $ Gross Margin Sales Less Cost of goods sold Gross profit FIFO 50,900 $ 31,800 19,100 $ LIFO Avg. Cost Spec.ID 50,900 $ 50.900 $ 50,900 32,9201 32,248 17,980s 18,652 $