B tomheducation.com ades Museum 300-Spring 2001 Fancia Acous Quation MC5 H-Core C Siet Congue Oos Pas ar M03 Ch 05 Homework Help 4 Required information Part 44 75 (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 Mar. 1 Beginning inventory Mar. 5 Purchase Mar. Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 70 units $50.00 per unit 210 units $55.40 per unit 70 units @ 568.40 per unit 120 units@ $62.40 per unit 470 units Units Sold at Retail 230 units @ $85.40 per unit 100 units $95.48 per unit 4. Compute gross profteamed by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 50 units from beginning inventory and 180 units from the March 5 purchase; the March 29 sale consisted of 30 units from the March 18 purchase and 70 units from the March 25 purchase (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar) Oruss Margin Sales Less: Cost of goods sold Gross prof FIFO LIFO Avg. Cost Spec. 10