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

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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 Acquired at Cost,Units Sold at Retail],[\table[[March 1],[March 5]],\table[[Beginning inventory],[Purchase]],,],[\table[[March 9],[March 18]],Sales,,250 units @ $85.80 per unit],[\table[[March 18],[March 25]],Purchase,80 units @ $60.80 per unit,],[\table[[March 25],[March 29]],\table[[Purchase],[Sales]],140 units @ $62.80 per unit,120 units @$95.80 per unit],[,Totals,530 units,370 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 60 units from beginning inventory, 190 units from the March 5 purchase, 40 units from the March 18 purchase, and 80 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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