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 110 units @ $51.20 per unit 230 units @ $56.20 per unit Units Sold at Retail 270 units @ $86.20 per unit Mar 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 90 units @ $61.20 per unit 160 units @ $63.20 per unit 590 units 140 units @ $96.20 per unit 410 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) 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 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 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