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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.
4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 210 units from the March 5 purchase, 60 units from the March 18 purchase, and 100 units from the March 25 purchase.
Note: Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.
Answer is complete but not entirely correct.
\table[[Gross Margin,,FIFO,,LIFO,,\table[[ighted],[erage]],Specific ID],[Sales,$,20,770,$,20,770,$,20,770,20,770],[\table[[Less: Cost of goods],[sold]],,16,350,,15,860,,20,420,28,600
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