Required information Problem 5-1A (Algo) Periodic: Alternative cost flows LO P1 [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 March 1 March 5 March 9 March 18 March 25 March 29 Sales Purchase Purchase Sales Activities Units Acquired at Cost Units Sold at Retail Beginning inventory 200 units Purchase 500 units $90 per unit $95 per unit 520 units $125 per unit Totals 320 units 400 units 1,420 units $100 per unit $102 per unit 360 units $135 per unit 880 units For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 450 units from the March 5 purchase; the March 29 sale consisted of 140 units from the March 18 purchase and 220 units from the March 25 purchase. Problem 5-1A (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. FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold 1,420 Gross profit $ (1,420) $ 0 $ 0 $ 0