! Required Information Problem 6-1A 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 Mar. Mar. 1 Beginning inventory 5 Purchase Mar. 9 Sales Units Acquired at Cost 250 units @ $54.00 per unit 300 units @ $59.00 per unit Units Sold at Retail 410 units @ $89.00 per unit Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 160 units @ $64.00 per unit 300 units @ $66.00 per unit 1,010 units 280 units @ $99.00 per unit 690 units Problem 6-1A Part 4 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. (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 LIFO Avg. Cost Spec. ID