Required information Problem 5-2AA (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. Activities Beginning inventory Purchase Date March 1 March 5 March 9 Sales March 18 March 25 Purchase March 29 Sales Totals Purchase Units Acquired at Cost 80 units $50.60 per unit 215 units @ $55.60 per unit $60.60 per unit @$62.60 per unit 75 units 130 units 500 units Units Sold at Retail 240 units $85.60 per unit 110 units $95.60 per unit 350 units "roblem 5-2AA (Algo) Part 4 Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale Onsisted of 55 units from beginning inventory and 185 units from the March 5 purchase; the March 29 sale consisted of 35 units from me March 18 purchase and 75 units from the March 25 purchase. ote: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar. 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. Note: 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 LIED Average Cost Specific 10