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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions

for March.

Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include $55$

units from beginning inventory, $185$ units from the March $5$ purchase, $35$ units from the March $18$ purchase, and $75$ units from the March

$25$ purchase.

Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions

for March.

Compute the cost assigned to ending inventory using $($a$)$ FIFO, $($b$)$ LIFO, $(c)$ weighted average, and $(d)$ specific identification. For

specific identification, units sold include $55$ units from beginning inventory, $185$ units from the March $5$ purchase, $35$ units from the

March $18$ purchase, and $75$ units from the March $25$ purchase.

Complete this question by entering your answers in the tabs below.

Compute the cost assigned to ending inventory using FIFO.