Warnerwoods Company uses a periodic inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase March 9 Sales March 18 Purchase March 25 March 29 Purchase Sales Units Acquired at Cost 100 units @ $50 per unit 400 units @ $55 per unit 120 units @ $60 per unit 200 units @ $62 per unit Units Sold at Retail 420 units @ $85 per unit Totals 820 units 160 units @ $95 per unit 580 units For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. 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. FIFO Answer is not complete. LIFO Weighted Average Specific Identification Sales $ 24,000.00 $ 24,000.00 $ 24,000.00 $ 24,000.00 Less: Cost of goods sold 300,000.00 x 3.000,00x $ Gross profit $ 21,000.00 $ 24,000.00 $ 24,000.00 (276,000.00)