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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.
Date Activities Units Acquired at Cost Units Sold at Retail
March 1 Beginning inventory 230 units @ $53.60 per unit
March 5 Purchase 290 units @ $58.60 per unit
March 9 Sales 390 units @ $88.60 per unit
March 18 Purchase 150 units @ $63.60 per unit
March 25 Purchase 280 units @ $65.60 per unit
March 29 Sales 260 units @ $98.60 per unit
Totals 950 units 650 units
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase.
Note: Round weighted average cost
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