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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 3.57 points Units Sold at Retail Units acquired at Cost 110 units $51.20 per unit 230 units e$56.20 per unit Skipped Date Activities Mar. 1 Beginning inventory Mor. 5 Purchase Mar. Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 90 units e $61.20 per unit 160 unita e $63.20 per unit $96.20 per unit 590 units 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 70 units from beginning inventory and 200 units from the March 5 purchase; the March 29 sale consisted of 50 units from the March 18 purchase and 90 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit

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