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of 4 Required information. [The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the
of 4 Required information. [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 March 1 March S March 9 March 18 bok March 25 March 29 Units Sold at Retall Activities Beginning Inventory Purchase Units Acquired at Cost 100 units $51.00 per unit 225 units $56.00 per unit Sales Purchase Purchase Sales Totals 260 units $56.00 per unit 85 units 150 units $61.00 per unit $63.00 per unit 560 units 130 units $96.00 per unit 300 units ences 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 65 units from beginning inventory, 195 units from the March 5 purchase, 45 units from the March 18 purchase, and 85 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific 10
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