Problem 5-2AA (Algo) Perpetual: Alternative cost flows LO P3 [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 5 Activities Beginning inventory Purchase Sales Purchase Units Acquired at Cost 130 units $51.60 per unit 240 units @ $56.60 per unit March 9 March 18 March 25 Purchase March 29 Sales Totals Units Sold at Retail 290 units @$86.60 per unit 100 units 180 units $61.60 per unit $63.60 per unit 650 units 160 units $96.60 per unit 450 units: Problem 5-2AA (Algo) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. Note: 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 Average Cost Specific ID