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 Units Sold at Retail March 1 March 5 March 9 March 18 March 25 March 29 Purchase Sales Purchase Purchase Sales Activities Beginning inventory Units Acquired at Cost 120 units 235 units $51.40 per unit $56.40 per unit 280 units $86.40 per unit 95 units 170 units $61.40 per unit $63.40 per unit Totals 620 units 150 unita a 596.40 per unit 430 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) Answer is complete but not entirely correct. Gross Margin FIFO LIFO Weighted Average Sales $ 26,200 $ Less: Cost of goods sold Gross profit (24,027) 2,173 $ 26,200 (25,077) $ 26,200 $ (24,458) Specific ID 26,200 (24,817) 1,123 S 1,742 S 1,383