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Requlred Informatlon [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and
Requlred Informatlon [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 190 units @ $52.88 per unit 278 units @ $57.82 per unit Date Activities Mar 1 Beginning inventory Mar. 5 Purchase Mar 19 Sales Mar 18 Purchase Mar 25 Purchase 220Sales 350 units a $87.82 per unit 132 units @ $62.82 per unit 240 units @ $64.82 per unit 220 units @ $97.8e per unit 5 units Totals 80 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 110 units from beginning inventory and 240 units from the March 5 purchase: the March 29 sale consisted of 90 units from the March 18 purchase and 130 units from the March 25 purchase. (Round welghted average cost per unit to two declmals and final answers to nearest whole dollor.) Gross Margin FIFO LIFO Avg. Cost Spec. ID Sales Less. Cost of goods sold Gross profit
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