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 March 5 Activities Beginning inventory Purchase Units Acquired at Cost Units Sold at Retail 100 units $50 per unit 400 units March 9 Sales March 18 March 25 March 29 Purchase Purchase 120 units 200 units $55 per unit $60 per unit) @$62 per unit 420 units $85 per unit Sales Totals 820 units 160 units 580 units $95 per unit 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory. 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase. Note: Round weighted average cost per unit to 2 decimal places. Gross Margin Sales Less Cost of goods sold Gross profit FIFO LIFO Weighted Average Specific ID