Required information Problem 5-1A 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 Date Activities Units Acquired at Cost units sold at Retail 1 Beginning inventory 10 units @ $50.60 per unit 5 Purchase 215 units 555.60 per unit 9 Sales 240 undts @ $85.68 per unit Mar. 18 Purchase 75 units @ $60.60 per unit Har. 25 Purchase 130 units $62.60 per unit 110 units@ $95.60 per unit Totals See units 350 units Mar. Mar Mar. Mar. 29 Sales 4. Compute gross profit earned by the company for each of the four costing methods for specific identification, the March 9 sale consisted of 55 units from beginning inventory and 185 units from the March 5 purchase, the March 29 sale consisted of 35 units from the March 18 purchase and 75 units from the March 25 purchase (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO, LIFO Avg. Cost Spec.ID Gross Margin Sales Less: Cost of goods sold Gross profit