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[ The following information applies to the questions displayed below. ] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and

[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.
\table[[Date,Activities,Units Acquired at Cost,Units Sold at Retail],[March 1,Beginning inventory,220 units @ $53.40 per unit,],[March 5,Purchase,285 units @ $58.40 per unit,380 units 0$88.40 per unit],[March 9,Sales,,380 units @ $88.40 per unit],[March 18,\table[[Purchase],[Purchase]],\table[[145 units @$63.40 per unit],[270 units @$65.40 per unit]],],[\table[[March 25],[March 29]],\table[[Purchase],[Sales]],270 units @ $65.40 per unit,250 units @ $98.40 per unit],[,Totals,920 units,630 units]]
Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 125 units from beginning inventory, 255 units from the March 5 purchase, 105 units from the March 18 purchase, and 145 units from the March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
\table[[Gross Margin,FIFO,LIFO,\table[[Weighted],[Average]],Specific ID],[Sales,,,,],[Less: Cost of goods sold,,,,],[Gross profit,,,,]]
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