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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
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 Part 4 of 4 for March. Activities Units Sold at Retail Units Acquired at Cost 130 units $51.60 per unit 240 units $56.60 per unit Mar. 1Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 7 points 290 units $86.60 per unit 100 units@ $61.60 per unit 180 units $63.60 per unit 160 units $96.60 per unit Totals 650 units 450 units Print 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 210 units from the March 5 purchase; the March 29 sale consisted of 60 units from the March 18 purchase and 100 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Avg. Cost ross Margin Sales Less: Cost of goods sold Gross profit FIFO LIFO Spec. ID
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