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Required information Problem 6 - 1 A ( Algo ) Perpetual: Alternative cost flows LO P 1 [ The following information applies to the questions

Required information
Problem 6-1A (Algo) 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.
\table[[Date,Activities,Units A,Acquired at Cost,Units Sold at Retail],[\table[[March 1],[March 5]],\table[[Beginning inventory],[Purchase]],140 units,a $51.80 per unit,],[March 9,\table[[Purchase],[Sales]],245 units,a $56.80 per unit,],[March 18,Purchase,105 units,,300 units @ $86.80 per unit],[March 25,Purchase,190 units,\table[[(d $61.80 per unit],[a $63.80 per unit]],],[March 29,\table[[Sales],[Totals]],,,170 units @$96.80 per unit],[,Totals,680 units,,470 units]]
Problem 6-1A (Algo) Part 4
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 85 units from beginning inventory, 215 units from the March 5 purchase, 65 units from the March 18 purchase, and 105 units from the March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
\table[[Gross Margin,FIFO,LIFO,\table[[Weighted],[Average]],Specific ID],[Sales,,,,],[Less: Cost of goods sold,,,,],[Gross profit,,,,]]
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