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 Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 100 units @ $50.00 per unit Mar 5 Purchase 400 units @ $55.00 per unit Mar. 9 Sales 420 unit $85.00 per unit Mar. 18 Purchase 120 units @ $60.00 per unit Mar. 25 Purchase 200 units $62.00 per unit Mar. 29 Sales 160 units@ $95.00 per unit Totals 320 units 580 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 80 units from beginning inventory and 340 units from the March 5 purchase the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase (Round weighted average cost per unit to two decimals.) FIFO LIFO Avg. Cost Spec.ID Gross Margin Sales Less Cost of goods sold Gross profit