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. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 120 units $51.40 per unit 235 units @ $56.40 per unit Units Sold at Retail 280 units @ $86.40 per unit 95 units @ $61.40 per unit 170 units @ $63.40 per unit 620 units 150 units @ $96.40 per unit 430 units Problem 6-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Beginning inventory Cost per Cost of Goods Available for Sale Unit Problem 6-1A Part 1 Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of Goods Available for Sale # of units Beginning inventory Purchases: March 5 March 18 March 25 Total Cost per Unit Cost of Goods Available for Sale Mar. 25 Purchase: Mar. 29 Sales: 170 units @ $63.40 per unit Totals 620 units 150 units $96.40 per unit 430 units 13 Problem 6-1A Part 4 ok 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 75 units from beginning inventory and 205 units from the March 5 purchase; the March 29 sale consisted of 55 units from the March 18 purchase and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin incest Sales Less: Cost of goods sold Gross profit FIFO LIFO Avg. Cost Spec. ID