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Required information Skip to question [The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the

Required information

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[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.

Date Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 105 units @ $40 per unit
March 5 Purchase 405 units @ $45 per unit
March 9 Sales 425 units @ $75 per unit
March 18 Purchase 130 units @ $50 per unit
March 25 Purchase 210 units @ $52 per unit
March 29 Sales 170 units @ $85 per unit
Totals 850 units 595 units

For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 355 units from the March 5 purchase; the March 29 sale consisted of 45 units from the March 18 purchase and 125 units from the March 25 purchase.

4. Compute gross profit earned by the company for each of the four costing methods.

Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.

image text in transcribed 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar

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