Required information Problem 6-2AA Periodic: Alternative cost flows LO P3 The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 175 units @ $65 per unit 475 units @ $70 per unit 495 units @ $100 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 270 units @ $75 per unit 350 units @ $77 per unit 310 units @ $110 per unit 805 units 1,270 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 415 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 195 units from the March 25 purchase. Problem 6-2AA Part 3 Required information a) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale $ 11,375 # of units | sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 175 $ 65.00 1 75 $ 65.00 $ 11,375 $ 0.00 $ 0 Beginning inventory Purchases: March 5 March 18 March 25 Total $ $ $ 475 270 350 1,270 70.00 75.00 77.00 $ $ 0.00 0.00 33,250 20,250 26,950 $ 91,825 $ $ $ 0.00 0.00 0.00 175 $ 11,375 0 b) Periodic LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Cost per # of units # of units unit Available for Sale 175 $ 65.00 $ 11,375 # of units sold Cost per unit Cost per Goods Sold # of units in ending inventory Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 475 270 350 1,270 $ $ $ 70.00 75.00 77.00 33,250 20,250 26,950 $ 91,825 Total c) Average Cost Cost of Goods Sold Ending Inventory f4 Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale 175 $ 11,375 # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory Beginning inventory Purchases: March 5 March 18 March 25 Total 475 270 350 1,270 33,250 20,250 26,950 $ 91,825 $ 0 d) Specific Identification Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale $ 11,375 # of units sold Cost per unit Cost of Goods Sold # of units in ending inventory Cost per unit Ending Inventory 175 $ 65.00 $ 65.00 $ 0 $ 65.00 $ Beginning inventory Purchases: March 5 March 18 March 25 Total 475 270 350 1,270 $ $ $ 70.00 75.00 77.00 33,250 20,250 26,950 $ 91,825 $ $ $ 70.00 75.00 77.00 $ 70.00 $ 75.00 0 $ 77. 000 10 0 Problem 6-2AA Part 4 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Gross profit $ 0 $ 0 $ 0 $ 0