! 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 transactions for March. Date March 1 Activities Units Acquired at Cost Units Sold at Retail March 5 Beginning inventory Purchase 220 units $53.40 per unit 285 units $58.40 per unit March 9 Sales 380 units $88.40 per unit March 18 March 25 March 29 Purchase Purchase Sales 145 units $63.40 per unit 270 units @ $65.40 per unit Totals 920 units 250 units $98.40 per unit 630 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 125 units from beginning inventory and 255 units from the March 5 purchase; the March 29 sale consisted of 105 units from the March 18 purchase and 145 units from the March 25 purchase. Note: 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 Average Cost Specific ID