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2. Compute the number of units in ending inventory. 4. Compute gross profit earned by the company for each of the four costing methods. (Round

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2. Compute the number of units in ending inventory.

4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places.)

FIFO LIFO Weighted Average Specific Identification
Sales
Less: Cost of Goods Sold
Gross Profit

I need help with part 2 and 4. Explain how it is solved.

[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 145 units @ $80.00 per unit 445 units @ $85.00 per unit 465 units @ $115.00 per unit Date Activities Mar. 1 Beginning Inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 210 units 290 units @ $90.00 per unit @ $92.00 per unit @ $125.00 per unit 250 units 715 units 1,090 units For specific identification, the March 9 sale consisted of 90 units from beginning inventory and 375 units from the March 5 purchase; the March 29 sale consisted of 85 units from the March 18 purchase and 165 units from the March 25 purchase

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