Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 840 units @ $44 per unit 260 units @ $40 per unit 220 units @ $20 per unit 220 units @ $60 per unit 340 units @ $48 per unit 1,880 units Units Sold at Retail 460 units @ $75 per unit 380 units @ $75 per unit 840 units 4. Compute gross profit earned by the company for each of the three costing methods in part 3. FIFO Specific Identification Weighted Average Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 5. If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer? Specific Identification Weighted average method O FIFO 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) specific identification-units sold consist of 620 units from beginning inventory and 220 units from the March 13 purchase, and (c) weighted average cost. (Round per unit to 2 decimals, but inventory balances to the dollar.)