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[The following information applies to the questions displayed below.] Warnerwoods Company uses a periodic inventory system. It entered into the following purches and sales transactions
[The following information applies to the questions displayed below.]
Required information [The following information applies to the questions displayed below.) Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March Activities Units Acquired at Cost Units sold at Retail Beginning inventory 200 units $90 per unit Purchase 500 units & $95 per unit Sales 520 units e $125 per unit Purchase 320 units $100 per unit March 25 400 units e $102 per unit March 29 360 units $135 per unit 1,420 units 880 units Date March 1 March 5 March 9 March 18 Purchase Sales Totals For specific identification, units sold include 70 units from beginning inventory, 450 units from the March 5 purchase, 140 units from the March 18 purchase, and 220 units from the March 25 purchase. 4. Compute gross profit earned by the company for each of the four costing methods. (Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.) FIFO LIFO Weighted Average Specific Identification Sales Loss Cost of goods sold Gross profit $ $ 0$ 0 $ 0 3 MacBook Pro Warnerwoods Company uses a periodic inventory system. It entered into the following purches and sales transactions for March.
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