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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

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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 sales transactions for March Units Sold at Retail Units acquired at Cost 160 units @ $52,20 per unit 255 units @ $57 120 per unit 320 units @ $87.20 per unit Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals 115 units @ $62.20 per unit 210 units @ $64.20 per unit 190 units o$97.20 per unit 510 units 740 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 95 units from beginning inventory, 225 units from the March 5 purchase, 75 units from the March 18 purchase, and 115 units from the March 25 purchase. (Round welghted average cost per unit to two decimals and final answers to nearest whole dollar) FIFO LIFO Weighted Average Specific ID Gross Margin Sales Less Cost of goods sold Gross profit

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