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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
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 and final answers to nearest whole dollar.)
Required Information Problem 5-1AA Periodic: Alternative cost flows LO P1 [The following Information applies to the questions displayed below] Warnerwoods Company uses a perlodic Inventory system It entered Into the following purchases and sales transactions for March Date Activities Units Acquired at Cost Units Sold at Retail Begin g inventory Mar. Purchasa 425 units@ $75 per unit nchar 138 units 218 units @ s52 per unit Mar, 25 Purchase 29 5ales Mar. 17e units @ $85 per unit Tatals 850 units 595 units For specific ldentification, the March 9 saie consisted of 70 units from beginning inventory and 355 units from the March 5 purchase: the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purchase. Problem 5-1AA Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decl places and flinal answers to neerest whole doller.) Weightec Average FIFO LIFO Sales Lecs: Cost of anods snld ol s Gross proft.Step by Step Solution
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