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Please help me ! thank you Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It

Please help me ! thank you

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[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 Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 80 units @ $50.60 per unit
Mar. 5 Purchase 215 units @ $55.60 per unit
Mar. 9 Sales 240 units @ $85.60 per unit
Mar. 18 Purchase 75 units @ $60.60 per unit
Mar. 25 Purchase 130 units @ $62.60 per unit
Mar. 29 Sales 110 units @ $95.60 per unit
Totals 500 units 350 units

4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)

image text in transcribed

FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit

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