Required information Problem 5-1A (Static) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Units Acquired at Cost March 1 March 5 Activities Beginning inventory Units Sold at Retail 100 units Purchase 400 units March 9 Sales March 18 Purchase March 25 Purchase 120 units 200 units 0 $50 per unit $55 per unit 0 $60 per unit $62 per unit 420 units $85 per unit March 29 Sales Totals 820 units 160 units 0 $95 per unit 580 units Problem 5-1A (Static) Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. (Round weighted average cost per unit to 2 decimal places.) Gross Margin Sales Loss: Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID 50,900 $ 50.900 50,900 $ 50.900