1. Compute gross profit earned by the company for each of the four costing methods.

2. Compute the number of units in ending inventory.

3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification.

4. Compute gross profit earned by the company for each of the four costing methods

Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 190 units @ $80 per unit 490 units @ $85 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 510 units @ $115 per unit 300 units @ $90 per unit 380 units @ $92 per unit 340 units @ $125 per unit 850 units Totals 1,360 units For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 460 units from the March 5 purchase; the March 29 sale consisted of 130 units from the March 18 purchase and 210 units from the March 25 purchase