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Required information Problem 5 - 2 AA ( Algo ) Periodic: Alternative cost flows LO P 3 Skip to question [ The following information applies

Required information
Problem 5-2AA (Algo) Periodic: Alternative cost flows LO P3
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[The following information applies to the questions displayed below.]
Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 160 units @ $50 per unit
March 5 Purchase 460 units @ $55 per unit
March 9 Sales 480 units @ $85 per unit
March 18 Purchase 240 units @ $60 per unit
March 25 Purchase 320 units @ $62 per unit
March 29 Sales 280 units @ $95 per unit
Totals 1,180 units 760 units
For specific identification, units sold include 60 units from beginning inventory, 420 units from the March 5 purchase, 100 units from the March 18 purchase, and 180 units from the March 25 purchase.
Problem 5-2AA (Algo) Part 4
4. Compute gross profit earned by the company for each of the four costing methods.
Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.

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