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

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Required information
[The following information applies to the questions displayed below.]
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactio for March.
\table[[Date,Activities,Units Acquired at cost,Units Sold at Retail],[March 1,Beginning inventory,100 units e $50 per unit,],[March 5,Purchase,e $55 per unit,],[March 9,Sales,,@ $85 per unit],[March 18,Purchase,e $60 per unit,],[March 25,Purchase,(2 $62 per unit,],[March 29,Sales,,e $95 per unit],[Totals,820 units,580 units]]
Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold incl units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from March 25 purchase.
Note: Round weighted average cost per unit to 2 decimal places.
\table[[Gross Margin,FIFO,LIFO,Weighted Average,Specific ID],[Sales,,,,],[Less: Cost of goods sold,,,,],[Gross profit,,,,]]
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