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 Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals Units Acquired at Cost 200 units @ $53.00 per unit 275 units @ $58.00 per unit 135 units @ $63.00 per unit 250 units @ $65.00 per unit 360 units @ $88.00 per unit 230 units @ $98.00 per unit 590 units 860 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 115 units from beginning inventory and 245 units from the March 5 purchase, the March 29 sale consisted of 95 units from the March 18 purchase and 135 units from the March 25 purchase. (Round welghted average cost per unit to two decimals and final answers to nearest whole dollar.) Answer is complete but not entirely correct. FIFO LIFO Avg. Cost Spec. ID 54,220 S 54,220 S 54,220 $ 54,220 S Gross Margin Sales Less: Cost of goods sold Gross profit 33,795 42,245 35,198 33,840 S 20,425 S 11,975 X $ 19,022 $ 20,380