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Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date Activities Units Acquired at Cost Units

 

Warnerwoods Company uses a periodic 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 200 units @ $90 per unit
March 5 Purchase 500 units @ $95 per unit
March 9 Sales 520 units @ $125 per unit
March 18 Purchase 320 units @ $100 per unit
March 25 Purchase 400 units @ $102 per unit
March 29 Sales 360 units @ $135 per unit
Totals 1,420 units 880 units
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.

Problem 5-2AA (Algo) Part 4
4. Compute gross profit earned by the company for each of the four costing methods.

Note: Round your average cost per unit to 2 decimal places and final answers to nearest whole dollar.

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