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Required information [The following information applies to the questions displayed below. Warnerwoods Company uses for March. perpetual inventory system. It entered into the following purchases
Required information [The following information applies to the questions displayed below. Warnerwoods Company uses for March. perpetual inventory system. It entered into the following purchases and sales transactions Activities Units Acquired at Cost 250 units $54.00 per unit 300 units $59.00 per unit Units Sold at Retail Date Mar Mar Mar 1 Beginning inventory 5 Purchase 410 units $89.00 per unit 9 Sales 160 per unit Purchase Mar 300 $66.00 per unit 25 se 280 units $99.00 per unit Mar 29 Sales 1,010 units 690 units Totals 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Gross Margin FIFO LIFO Avg. Cost Spec. ID Sales Less: Cost of goods sold Gross profit
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