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Required information The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and
Required information The following information applies to the questions displayed below) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 185 units @ $75 per unit 485 units @ $ae per unit Date Activities Mar. 1 Beginning inventory Mar 5 Purchase Mar 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 505 units @ $110 per unit 290 units @ $85 per unit 370 units @ $87 per unit 1,330 units 330 units @ $120 per unit 835 units For specific identification, the March 9 sale consisted of 40 units from beginning inventory and 465 units from the March 5 purchase the March 29 sale consisted of 125 units from the March 18 purchase and 205 units from the March 25 purchase 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Less: Cost of goods sold Grons profit 8 Prev 9 Nex
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