2 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. of 4 Date Units Sold at Retail Activities March 11 March 5 Beginning inventory 70 units Units Acquired at Cost $50.40 per unit Purchase 210 units $55.40 per unit March 91 Sales 230 units @ $85.40 per unit March 18 Purchase March 25 Purchase March 29 Sales. Totals 70 units 120 units $60.40 per unit $62.40 per unit 470 units 100 units @ $95,40 per unit 330 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. Gross Margin FIFO LIFO Weighted Average Specific ID: Sales Less Cost of goods sold Gross profit Prev 32 of 32 Next Assessment Tool Frame