Required information Problem 5-1A (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 March 9 March 18 March 25 March 29 Sales Purchase Purchase Sales Totals Activities Beginning inventory Units Acquired at Cost 70 units $50.40 per unit Units Sold at Retail Purchase 210 units $55.40 per unit 230 units $85.40 per unit 70 units 120 units $60.40 per unit $62.40 per unit 470 units: 100 units $95.40 per unit 330 units 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 50 units from beginning inventory, 180 units from the March 5 purchase, 30 units from the March 18 purchase, and 70 units from the March 25 purchase. (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 Weighted Average Specific ID