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Problem 5 - 1 A ( Algo ) Perpetual: Alternative cost flows LO P 1 [ The following information applies to the questions displayed below.

Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P1
[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.
\table[[Date,Activities,Units Acquired at cost,Units Sold at Retail],[March 1,Beginning inventory,60 units @ $50.20 per unit,],[\table[[March 5],[March 9]],Purchase,205 units @$55.20 per unit,],[\table[[March 9],[March 18]],\table[[Sales],[Purchase]],,220 units @ $85.20 per unit],[March 25,\table[[Purchase],[Purchase]],65 units @ $60.20 per unit,],[March 29,\table[[Sales],[Totals]],110 units @ $62.20 per unit,90units310units@$95.20 per unit]]
Problem 5-1A (Algo) Part 4
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 45 units from beginning inventory, 175 units from the March 5 purchase, 25 units from the March 18 purchase, and 65 units from the March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
\table[[Gross Margin,FIFO,LIFO,\table[[Weighted],[Average]],Specific ID],[Sales,,,,],[Less: Cost of goods sold,,,,],[Gross profit,,,,]]
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